Altcoins Could Dump 50-80% Easily, Says Crypto Capo

The crypto analyst who correctly predicted the most recent significant market crash was making a new batch of cautionary statements, which is related to Ethereum (ETH)-based altcoins.

On December 17, Capo claimed that his prediction regarding WAVES would be coming true and that the altcoin‘s current downward trend may only be the beginning.

Capo is negative on crypto in the near to medium term and expects altcoins to take another significant hit before the bear market bottoms.

In terms of Bitcoin (BTC), Capo predicts a decrease to about $12,000, or around 30% below current values. When it comes to ETH, he believes that the present market behavior in Ethereum is classic bearish and that ETH is poised to break down to its next support level of $1070.

However, the well-known trader and analyst had previously predicted that Ethereum might go as low as $600, possibly as a result of unfavorable news.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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