KOL Capo predicts a sharp drop in BTC and ETH in the near-term
A leading analyst predicts that Bitcoin and Ethereum will continue to decline amid the global market turmoil.
Person known in the industry by the nickname Capo alarm Its 244,900 Twitter followers say it’s premature to buy the dip right now, saying the two largest cryptocurrencies by market cap could still fall another 50% from current prices.
Capo says BTC, currently trading at $39,459, could fall as low as $20,000.
“The supply is being replenished. Be careful if you buy too early. I’ll keep waiting until it hits $20,000.”
Regarding Ethereum, the analyst says the price of the leading smart contract platform could fall as low as $1,100. At the time of writing, ETH is changing hands at $2,827.08.
Analysts too give bearish outlook for the rest of the altcoin market, says technical indicators suggest prices will continue to fall.
They continue to be dumped, even more so than BTC. Based on this chart and any altcoin chart, the possibility of a continuation of the decline is very high.
While some coins are showing signs of recovery, with Ethereum up 6.58%, Terra (LUNA) up 10.45% and Solana (SOL) up 4.65% over the past 24 hours, Capo remains skeptical. Brothers alarm that this surge could be a bull trap.
“This rally is another three-wave move (upward correction) that is becoming very evident in altcoins.
Shopping here is very risky.”
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions
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