A widely known cryptocurrency trader and analyst has warned that one of the top 100 altcoins could suddenly crash and lose all its value.
In a new strategy session, anonymous cryptocurrency analyst Altcoin Sherpa told his 217,900 followers on social media platform X that Sam Altman’s “proof of character” project Worldcoin (WLD) is at risk of crashing to $0.
“WLD will eventually drop to $0, but it’s not clear when. This would be a great short and probably one of the best ways to hedge exposure.”
The analyst notes other social media users’ posts warning of the project’s fundamentals, including the upcoming Worldcoin token unlock, which is often perceived as bearish given the new sellable supply.
At the time of writing, WorldCoin is trading at $3.03, up 16.7% over the last 24 hours.
The analyst then looks at previous support and resistance levels to suggest possible paths forward for Bitcoin (BTC) after it regains the mid-$60,000 range.
“BTC: Three different scenarios:
- If you return the pump, it will be $63,000.
- If you return the pump, you get $60,000.
- Drops to $60k (with a slight bounce)/Death.
The most hopeful thing is to break this level without a pullback and go to $70k. Fingers crossed…
If I were you, I personally wouldn’t rush into the position. I think we’re going to see some kind of fullback soon (which is healthy and good). When people start yelling that it’s over and it’s dead, you can bid on the next big red day.”
At the time of writing, Bitcoin is trading at $64,657, up slightly over the last 24 hours.
Lastly, the analyst said that there is a high chance that the Mimecoin Pepe (PEPE) will reach the Fibonacci correction levels again at $0.00001112 or $0.00001057.
“Pepe: I am bidding on this area.”
Pepe is trading at $0.00001183 at the time of writing, down about 2% over the last 24 hours.
Don’t miss out on the latest news – subscribe to receive email notifications straight to your inbox.
Price check task
Follow us XFacebook and Telegram
Surfing the Daily Hodl Mix
 
Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.
Generated image: DALLE3