Analysts’ forecasts for cryptocurrencies, including BTC and PEPE, keep coming. The market is stagnant after the last increase. Let’s see what analysts expect at this point?
40,000 highlight for BTC
Highly respected analyst Michaël van de Poppe argues that Bitcoin is on track to reach a new annual high of $40,000 before experiencing a significant corrective move. There are also highlights for PEPE in his comments. Before this optimistic outlook materializes, there is also a negative situation. While Van de Poppe remains bullish on Bitcoin’s mid-term prospects, he also acknowledges the possibility of a slight downside correction before the next rise.
The resilience of Bitcoin, which is currently trading at over $30,000, is evident. Van de Poppe suggests that the rejection of $31,000 could signal a phase of consolidation. In such a scenario, a strategic game of around $29,000 or $28,000 is evident.
Capo’s warning
Known for his pessimistic stance on crypto, Capo expressed his unwavering analysis. He warned of a potential capitulation event. He predicts Bitcoin could drop to $12,000 and Ethereum to $500-700. He also expects altcoins to experience an average drop of 60-80%. Capo believes recent price movements have been manipulated. However, it does not offer a specific timeline for these events.
Capo explains that he took short positions in certain cryptocurrencies, including Binance Coin (BNB), Solana (SOL), and Polygon (MATIC) to capitalize on his predictions. These cryptocurrencies have recently faced scrutiny and legal challenges from the US Securities and Exchange Commission (SEC). Capo’s careful approach includes using low leverage for his shorts.
Targeting altcoins including PEPE for potential drops
Capo plans to increase his positions in altcoins, which he believes has more room for bearish. He specifically mentions BNB, TRX, SOL, AAVE, and MATIC as targets for potential declines. The TRX position is an exception, although many of these positions claim to be already profitable.
On the other hand, the famous analyst Van de Poppe makes evaluations for some altcoins other than BTC. He predicts that Litecoin, a peer-to-peer payments network, is positioned for a rise towards its 2023 high of around $103. It is possible that there will be a slight correction after reaching the first goal. However, Van de Poppe expects the uptrend to continue. He highlights that a break above recent highs could push Litecoin towards $180. Litecoin is trading at $88.43.
XRP’s key resistance conversion and PEPE accumulating
Cross-border payment solution XRP has the potential to rise if it successfully converts a significant resistance level to support. Van de Poppe expresses his interest in XRP. He also suggests that a breakout of the $0.5025 level could lead to the continuation of the upside momentum towards new highs. Currently, XRP is trading at $0.488.
Looking at Kriptokoin.com, Van de Poppe identifies Pepe, a memecoin, as the last coin of interest. It plans to accumulate PEPE should it experience a decrease of about 13% from its current price. Van de Poppe highlights the potential for another run in the coming months. He states that a viable buying opportunity would be around $0.00000135. At the time of this writing, PEPE is trading at $0.00000156.
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