A popular crypto analyst predicts further price drops for the already volatile altcoin markets.
The crypto trader, known by the nickname Capo, tells his 318,700 Twitter followers that he expects altcoin prices to drop in the coming days. told.
“Everything points to a 40-50% drop in altcoins in the next few days.
This should be the last drop and we can see a significant recovery for a few weeks after that.”
Capo predicts that there will be a rise after the fall. But he does not believe that all-time highs will be reached anytime soon.
“I expect a good recovery after this last drop (100-500% bounce depending on the coin), but later this year we may see the bear market continue. We don’t expect new ATHs until mid-2024 (after the next Halving).”
Besides, the analyst foresees a major move for the protocol THORChain (RUNE), which aims to facilitate the secure and inexpensive transfer of assets between its different blockchains.
THORChain’s native asset, RUNE, is trading at $3.09 at the time of writing. The altcoin has gained over 4% in the last 24 hours.
Capo shared a chart showing that RUNE could drop by around 65% to the $1.09 range. The chart also shows that the crypto asset could rise to the $3.70 range later on.
$RUNE pic.twitter.com/ED7cMkpUvl
— il Capo Of Crypto (@CryptoCapo_) May 24, 2022
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.