Popular crypto analyst Michaël van de Poppe says Bitcoin (BTC) could reach $46,000 and beyond soon while opining on the value of rising altcoin STEPN (GMT).
In a new tweet, Van de Poppe shares two BTC charts with his 586,300 followers highlighting important levels for the leading crypto asset by market cap.
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“If the market wants to see continuation, it has to crack that region around $42.3K for Bitcoin.
This is also a daily breaker.
If it breaks, I’m assuming a new test of $46K is around the corner and possibly $50k+.”
“So far, so good for Bitcoin.
I don’t think the upside is done, as the DXY is showing weakness…
I still think upwards continuation is likely with Bitcoin if $40.3K holds.”
Bitcoin is trading for $41,656 at time of writing.
Moving on to exploding lifestyle altcoin GMT, which equips users with non-fungible token (NFT) sneakers and rewards them for real-life steps taken, Van de Poppe says that STEPN’s current $1,900,000,000 valuation is “an absolute joke.”
“Honestly, the fact that $GMT is valued at $1.9 billion ([Fully Diluted Valuation] $18 billion) is an absolute joke, but tells a lot:
– The potential of the markets is insane and we’re still early.
– Marketing is doing its thing in crypto all over again.
– Valuations can still become ridiculous.”
STEPN is trading for $3.18 at time of writing, down 9.2% in the last 24 hours.
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Featured Image: Shutterstock/Bryan Vectorartist
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