Analyst Credible Crypto predicted that Bitcoin could decline by 22%. He stated that this decline could lead to serious losses in value in altcoins. However, the analyst also believes that Bitcoin can reach the $100,000 target in the long term.
Credible Crypto, one of the well-known analysts of the cryptocurrency market, shared on the X platform that Bitcoin could fall by approximately 22% from its current price level. This potential decline could cause major losses in value for altcoins. If the price of Bitcoin falls to $53,000, altcoins can also be expected to lose value quite aggressively.
According to the charts shared by the analyst, Bitcoin's price rally may have ended and a significant withdrawal may occur. Currently, the price of Bitcoin is trading at $68,842 and the market volume has exceeded $1.359 trillion. However, there was a 27% decrease in transaction volume, falling to 24.449 billion dollars.
Credible Crypto also evaluated how altcoins would perform after a possible correction in Bitcoin. According to the analyst, some altcoins may consider this decline as a temporary situation and show a strong recovery, while for others this may be the beginning of a more significant decline. Despite the decline, the analyst stated that this situation could be seen as a buying opportunity and predicted that Bitcoin could rise up to $ 100,000.
Ethereum Reviews
Making evaluations about Ethereum (ETH) as well as Bitcoin, Credible Crypto stated that ETH showed a clearer downward trend than Bitcoin. The analyst noted that ETH could outperform Bitcoin's possible lows, but it is possible for ETH to hit its own lows (below $2,800).
At the time of writing, the price of Ethereum is trading at $3,309, indicating an increase of 2.21%.
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