Knowing about the recent crash, the crypto analyst is warning investors about an altcoin. According to him, the price of this cryptocurrency, which has risen over 330% since August, will soon collapse. The analyst also shared that he expects a decrease for 4 cryptocurrencies. Here are the details…
“This altcoin will experience a massive crash”
The pseudonymous analyst known as Crypto Capo spoke to his 510,000 Twitter followers. Capo said Terra Classic, the rebranded version of stablecoin issuer Terra (LUNA), is a bad project. He then issued a warning to investors to stay away from this altcoin project. He also described LUNC as a scam:
“How many people do you think are falling for the LUNC scam again? My advice: stay away from it.”
LUNA collapsed in May after its stablecoin lost peg to the US dollar. Thus, the leading altcoin project of 2021 has lost more than 99.9% of its price. According to Capo’s charts, LUNC will experience a major crash in the coming days. The coin is currently trading at $0.000439, down 16.46% on the day. However, since the beginning of August, it has recorded a huge increase of 337%.
“These 2 altcoins will also collapse”
Capo is also taking a look at the smart contract platform Cardano (ADA). His analysis shows that Cardano will rally to $0.55 before falling to the $0.35 area in mid-September. Cardano is currently worth $0.52, up over 7% in the last 24 hours.
After Cardano, the famous analyst takes a look at the leading altcoin project Ethereum. Capo says that Ethereum will follow a similar pattern as Cardano. Its charts show that the 2nd largest cryptocurrency will rise to $1,800. However, it also reveals that after reaching this level, it will drop to the $1,350 range.
“Bitcoin will fall to these levels”
After the analyst shared bearish forecasts for 3 altcoins, he talked about the leading cryptocurrency Bitcoin (BTC). Capo predicts that the top crypto asset by market cap will climb into the $22,500 to $23,000 range after regaining support near $19,600. But the analyst’s chart also reveals that king crypto plunged into the $14,000 to $16,000 “buy zone” in October. If this happens, it will be a new bottom for BTC. Bitcoin is currently trading at $21,290, gaining 9.8% in the last 24 hours.
His previous predictions were out.
As Cryptokoin.com reported, Capo has become famous for his accurate BTC predictions in the past. For example, in March 2022, Capo predicted that BTC would fall below $23,000. At that time, Bitcoin was trading above $ 40,000. Capo’s prediction held up and in June BTC bottomed out at $18,000 below $23,000.
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