Widely followed Bitcoin and altcoin analyst Crypto Capo has warned that the current coin decline will deepen. He also revealed his target lows for certain altcoins. Here are the details…
Crypto Capo warns of a bigger sale
Crypto Capo, a crypto analyst and trader who stands out with his predictions and is therefore widely followed, made new statements. In his statements, he included altcoins such as TRX, ETH, FTT. After a rough week for crypto, he warned of further declines in crypto asset prices. Capo told his 627,100 Twitter followers that Bitcoin (BTC), Ethereum (ETH) and altcoins are poised to suffer huge losses. This week, he expressed his expectation that a capitulation would take place.
He stated that with the said capitulation, he expects a 16-20 percent decrease in Bitcoin. It marked a 36-40 percent drop in Ethereum (ETH), the second largest cryptocurrency. Other than these cryptos, it predicts a 40-45% decrease in altcoins. Bitcoin is trading at $17,347 at the time of writing, while Ethereum is changing hands at $1,274.
Capo then points to the token of TRON (TRX). He says he predicts TRX will drop drastically. He even pointed out that Justin Sun, the founder of the TRON ecosystem, follows him on Twitter and said “I have bad news for him”. He noted that Tron formed a descending triangle formation, indicating a 60 percent drop.
Gave levels for Bitcoin and some cryptocurrencies
On Cardano (ADA) and Polkadot (DOT), Capo says these coins could form a local bottom after drops of up to 49 percent and 40 percent respectively. The crypto analyst, in addition to identifying sub-targets for Bitcoin and Ethereum, says that Litecoin (LTC) could drop by 46 percent, while FTX (FTT) could lose over 99 percent. He lists potential targets for a local bottom in some cryptocurrencies after the capitulation event as follows:
- BTC $13,000 – $14,000
- ETH 700 – $750
- ADA $0.18 – $0.23
- LTC 29 – $32
- DOT 3.4 – 3.6 dollars
- FTT 0.00001
Analyst correctly predicted this year’s crash
Crypto Capo is widely followed due to its accurate predictions, as we have also reported as Kriptokoin.com. Especially this year, the predictions of Capo, who came to the fore with the correct prediction of the cryptocurrency collapse in June, are eagerly awaited. Previously, the analyst correctly predicted that BTC would drop to $50,000 in 2021. He had guessed right the drop to $3,500 about three years ago.
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