THORChain Will Be Bullish Soon?

THORChain Will Be Bullish Soon?

More price decreases are expected in the already turbulent cryptocurrency markets, according to a famous crypto expert. Capo, a pseudonymous crypto trader, tells his Twitter followers that cryptocurrency values would plummet in the next days.

“Everything points to another 40-50% drop in altcoins over the next few days. That should be the last leg down and we could see a good recovery after that, for some weeks.”

Capo, on the other hand, does not anticipate that new all-time highs will be reached anytime soon.

“I expect a good recovery after this last leg down (100-500% bounces depending on the coin), but later this year we could see the continuation of the bear market. Not expecting new ATHs until mid-late 2024 (post next halving).”

THORChain (RUNE), a decentralized exchange protocol aimed at facilitating the safe and inexpensive movement of assets between multiple blockchains, is expected to experience tremendous volatility, according to the analyst.

RUNE, THORChain’s native asset, is currently trading at $3.04 at the time of writing. In the last 24 hours, the 70th-ranked crypto asset by market cap has gained 1.2%.

Capo published a chart suggesting that he believes RUNE might go as low as $1.09, an almost 65% loss. The trend also shows that the crypto asset might jump back up to about $3.70.

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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