A widely followed crypto analyst believes that a rival to Ethereum (ETH) is one resistance level away from more than doubling its value.
Crypto strategist Michaël van de Poppe tells According to its 692,500 followers on social media platform
“I think we’ll see continuation in other ecosystems. One of these is Polkadot, which is currently making a higher low on the higher time frames. DOT will therefore likely continue to $17.”
Looking at his chart, the trader suggests that DOT could rise to $17 if the $9.39 resistance level turns into support.
DOT is trading at $7.21 at the time of writing, up 1.97% in the last 24 hours.
The trader too say that he did not expect Bitcoin’s (BTC) sudden surge on Friday, surpassing the $48,000 level.
“Bitcoin breaks $48,000. I’m surprised by the power, but I’m excited to see it.”
Finally, he cites a new interview in which Russian President Vladimir Putin says the United States’ debt levels are worrying. The trader believes Bitcoin is a safe haven in the event of an economic collapse.
“Putin said that America’s $33 trillion debt is a major concern for the rest of the world. That part is more important than we think today. Buy Bitcoin. Buy gold. It is a protection against bankruptcy, not against inflation.”
Bitcoin is trading at $47,436 at the time of writing, up almost 3% in the past 24 hours.
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Generated image: Midjourney