A popular crypto analyst, known as Altcoin Sherpa, is warning that Bitcoin could be in for a sudden and significant drop. He’s telling his followers on social media that Bitcoin could fall by more than 7% from its current price.
Bitcoin’s Potential Plunge
Sherpa believes that if Bitcoin drops below $62,000, it could quickly plummet to $58,000. He describes this as a “violent move.” However, he still thinks Bitcoin is in a good position overall, and that it’s still trading within a larger range of $55,000 to $73,000.
Mixed Signals for Bitcoin
Sherpa also notes that Bitcoin’s technical indicators are sending mixed signals. He says that some indicators suggest support at the current price, while others point to resistance. He’s not sure what to expect in the short term.
Solana Could Drop Further
Looking at another cryptocurrency, Sherpa says that Solana (SOL) could fall to as low as $125 before rebounding. He believes that this would be a good opportunity to buy SOL, as he expects it to double in price before the end of the year.
Only Three Cryptocurrencies to Hold
Sherpa says that he’s only comfortable holding Bitcoin, Ethereum, and Solana for the next six months. He thinks these are the safest options in the current market.
Important Note: This is just one analyst’s opinion. It’s always important to do your own research and not rely solely on one source for investment advice.
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