Cryptocurrency Trader Predicts Imminent Drop for Top-100 Altcoin, Provides Bitcoin Forecast and Pepe Update
2 min read
An expert in cryptocurrency markets, recognized by many, is cautioning that a certain altcoin among the top 100 in market cap might plummet and become worthless.
A recent analysis session featured a crypto expert, who goes by the name Altcoin Sherpa highlighting to his sizable following of 217,900 on the platform X that the “proof-of-person” initiative by Sam Altman, Worldcoin (WLD), is in jeopardy of crashing to $0.
“WLD is likely to hit rock bottom at $0 eventually; the timing, however, is uncertain. Shorting this could turn out to be an exceptional opportunity and might serve as an effective hedge against market exposure.”
He draws attention to another user’s social media warning regarding the project’s basic structure, emphasizing concerns over forthcoming unlocks of Worldcoin tokens. Such unlocks typically give rise to negative sentiment since they add to the supply that can be sold off.
As of the last update, Worldcoin is valued at $3.03, having risen by 16.7% over the previous 24 hours.
Turning attention to Bitcoin (BTC), Altcoin Sherpa explains what could potentially happen after the cryptocurrency reclaimed prices in the mid-$60,000 bracket, by analyzing past patterns of support and resistance.
“BTC: Possible outcomes include:
- Fall to $63,000 before recovering.
- Fall to $60,000 before recovering.
- Fall to $60,000 and fluctuate before a downward trend.
The best-case scenario would be to break through the current threshold without a pullback and climb to $70,000. One can only hope…
I wouldn’t recommend hastily opening a position. A pullback is likely on the horizon (which would be normal and favorable). The next major market dip might present an opportune time to invest, especially when there’s panic and talks of a crash.”
At the moment of reporting, Bitcoin trades at $64,657, showing a slight increment within the last day.
As for the meme cryptocurrency Pepe (PEPE), the prediction by the analyst suggests that it is likely to touch Fibonacci retracement levels at $0.00001112 or $0.00001057 soon.
“PEPE: aiming for these levels.”
Currently, Pepe is listed at $0.00001183, witnessing a decrease of close to 2% over the last 24-hour period.
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Disclaimer: Insights shared on The Daily Hodl do not constitute investment advice. Before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets, it’s important to conduct thorough research. Be aware that your financial decisions are solely your responsibility, and any losses incurred are on you. The Daily Hodl does not support the purchase or sale of any cryptocurrencies or digital assets, nor is it an investment consultant. The Daily Hodl is involved in affiliate marketing programs.
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