The popular analyst is valuing the outlook for the president crypto Bitcoin (BTC) and the president altcoin Ethereum (ETH). The analyst also analyzes the short-term outlook for a decentralized finance (DeFi) altcoin.
Two scenarios for Bitcoin from the analyst
Cryptocurrency analyst alias Credible Crypto says in a new Loom image, Bitcoin will likely bounce into the $19,000 range “for some relief”. However, he adds that the alternative scenario is for Bitcoin to lose the ‘must-hold’ level of $16,300-16,400 and drop to lows around $16,000.
Bitcoin is trading at $16,900 at press time, up 1.83% on the day. However, Bitcoin has lost about 5% of its value on a weekly basis.
These altcoins will also follow Bitcoin (BTC)
Credible Crypto also thinks that Ethereum will follow the course of Bitcoin. The analyst says that ETH could potentially go one foot higher. However, he states that ‘sooner or later’ it will fall to new local base levels below $1,073.
In this middle, ETH was trading at $1,217 at the time of writing. The second-ranked cryptocurrency by market cap has increased by 3.81% in the last 24 hours.
The analyst also says that the native token on the DeFi platform Curve DAO (CRV) will likely follow Bitcoin and Ethereum. He notes that it will likely make another accurate rise to $0.70 before returning to the $0.50 region. He also mentions that the 93rd ranked altcoin in the crypto league will likely break out in a few months in 2023. As such, he claims it will rise to the $1.55 goal.
CRV was trading at $0.5272 at the time of writing. The altcoin is down about 2.5% in the last 24 hours.
Analyst’s accurate predictions
About 4 years ago, Credible Crypto predicted that XRP would fall to $0.168 before rising to $0.20. The analyst also accurately predicted that XRP would rally after a correction in March 2020. In the meantime, it should be noted that XRP saw a process close to 0.5 dollars at the time of the cut. In the following periods, Ripple’s token approached $ 2 in the form predicted by the analyst. In addition to Ripple assumptions, Credible Crypto has also made successful claims for Bitcoin. The analyst knew that Bitcoin would rise above $50,000 before correcting in June of 2021. Furthermore, he suggested that once BTC broke above $67,000 on November 8, the crypto would now decline. The analyst also hit the mark in this assumption.