Crypto Analyst Predicts Local Bottoms for Major Cryptocurrencies

Bitcoin's Potential Bottom

A prominent crypto analyst has shared insights on potential price floors for major cryptocurrencies. The analyst forecasts Bitcoin's bottom to lie between $12,000 and $14,000. Currently, Bitcoin is trading at $15,701.40, experiencing a 2.77% drop in the last 24 hours and a weekly decline of over 6%. Despite the downturn, Bitcoin's 24-hour trading volume has surged by more than 13%.

Ethereum and Cardano Projections

Ethereum and Cardano are also under scrutiny, with projected bottoms of $600-$650 and $0.16-$0.20, respectively. At present, Cardano is valued at $0.3008, following a 1.06% price decrease. Nonetheless, Cardano has strengthened against Bitcoin and Ethereum, gaining approximately 0.97% and 2.70%, respectively.

Litecoin's Positive Performance

Unlike many cryptocurrencies facing declines, Litecoin is showing positive growth. It is currently trading at $61.77, marking a 1.77% increase over the last day and a 5% rise over the past week. This positions Litecoin as one of the few cryptocurrencies in the green during this period.

Projections for Other Cryptocurrencies

The analyst also provided insights for other cryptocurrencies such as Polkadot and FTX Token. Polkadot's bottom is anticipated between $2.8 and $3.1, while FTX Token could potentially reach as low as $0.000001.

This analysis reflects potential scenarios in the volatile crypto market, emphasizing the need for individual research and due diligence. Investors should approach these predictions with caution, considering the inherent risks involved in cryptocurrency trading.