The analyst, who correctly predicted the collapse of Bitcoin, warns XRP investors. Twitter account with 433,200 followers has issued a red alert for Bitcoin and 2 altcoins.
Bitcoin, XRP and BNB can see these levels
Foreseeing that Bitcoin (BTC) will drop below $30,000, Twitter analyst nicknamed “Capo” said that the XRP price will see its lowest levels since 2020. In his current analysis, Capo tells his 433,200 Twitter followers that the XRP price will drop from $0.34 to $0.16 to $0.14. Here is the chart that the analyst provided for this technical view:
XRP is currently trading at $0.3436, up over 4% from the last 24 hours. It has gained 9.82% since last week. If Capo’s predictions come true, it would mean a 50% loss for investors from the current price. Another altcoin that the analyst warned about was BNB.
Capo predicts bottom for BNB Coin
Capo also updated their prediction lair for Binance Coin (BNB), Binance’s native cryptocurrency. According to the analyst, the BNB price will fall between $125 and $135. BNB is currently trading at $241.93. Meanwhile, according to Capo’s predictions, BNB will depreciate more than 50% from its current price.
Analyst says new bottoms for Bitcoin are a matter of time
Finally, Capo said that it is only a matter of time before the leading cryptocurrency sees bottoms. He talks about the following in his latest analysis on Twitter.
Individual investors have not given up yet. Otherwise, we wouldn’t see neutral financing rates still at $20,000 after a weak rebound from $17,600 (13%). All indicators point to new declines. As always, time will tell how it will turn out.
However, some experts are hopeful for Bitcoin in the second half
cryptocoin.comMike McGlone said that Bitcin will act positively in the second half. The senior commodity strategist predicts an increase in Bitcoin price in the second half of 2022. Specifically, on July 6, McGlone tweeted that the BGCI and the 50-week and 100-week moving averages were pointing to the uptrend. He argued that current indicators are similar to those coming from the bottom of the bear market in 2018, which preceded a strong recovery in the first half of 2019. McGlone says:
Risk-versus-reward is leaning towards sensitive investors in the second half, with the Bloomberg Galaxy Crypto Index approaching a similar drop to its 2018 bottom and Bitcoin’s cut to similar 50- and 100-week moving averages to past fundamentals.
According to data from CryptoCompare, Bitcoin (BTC) lost more than 58% of its value in the second quarter of 2022. From $45,524 at the beginning of the second quarter, Bitcoin dropped to just under $19,000 on the last day of June.
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