A popular Twitter analyst has warned the leading crypto Bitcoin (BTC) bearish and scared that an Ethereum competitor could crash by more than 50%. Let’s examine the price estimates, keeping in mind that the estimates are not certain.
Capo warns Bitcoin bulls of a snare
A widely followed crypto analyst faces significant downside risks amid the recent sideways movements in the markets that a rival of Bitcoin (BTC) and an Ethereum (ETH) He says he’s across. The famous altcoin analyst known as Capo tells his more than 248,600 Twitter followers starting with Bitcoin that Bitcoin is experiencing weak bounces that may be short-lived:
The bulls became enthusiastic yesterday with another fake pump that didn’t even break $40,000. Pumps are getting weaker and this consolidation is coming to an end.
Bitcoin (BTC) is causing downward pressure, according to Capo It’s sending false signals known as bull traps that are likely to happen:
All I see are bull traps. This is probably the last one over $40,000.
Bitcoin is trading around $41,000 at the time of writing. Earlier this week, Capo said that his target for Bitcoin to hit $23,000 is “more likely now” as he waits for the correction to be “extended”.
Capo predicted that the ADA price will drop by more than 50%
Next is Cardano (ADA). Capo says that Ethereum rival’s native cryptocurrency, ADA, is showing “more weakness than expected.” As a result, the crypto analyst states that he lowered the support level for ADA below $0.40, which is about 50% lower than the current price:
The next support is $0.38-0 at $0.45-0.50 It dropped to $.40 because it shows more weakness than expected.
Cardano is trading in the $0.85 region at the time of writing. After ADA plunged below $1 last month, Capo predicted that the ninth-largest cryptocurrency would drop below $0.50 before moving upwards.
Charles Hoskinson points to June
As we quoted as Kriptokoin.com, the Cardano network is going through a busy period. Cardano founder Charles Hoskinson pointed to June for the Vasil hard fork, which could trigger a second wave.
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