The crypto analyst, who correctly predicted the last major market crash, warned of several cryptocurrencies, notably an Ethereum (ETH)-based altcoin.
The pseudonymous trader known as Capo told 690,000 Twitter followers in May that Waves could be the “next LUNA” told. As it is known, LUNA was the native token of the Terra ecosystem, which suffered a major crash.
It seems that Capo remains behind the WAVES call and thinks the big bearish move for the altcoin may have just begun.
“Just the beginning.”
Capo expects a short to medium term drop in the crypto market in general and another major selling pressure for altcoins before the bear market bottoms out. waiting.
“Altcoins seem like they could easily lose 50-80% of value. Remember, there will always be a trigger (bad news may come soon), but first the charts speak. Stay safe.”
Looking at Bitcoin (BTC), Capo predicts a drop to around $12,000.
“BTC is simple.”
As for Ethereum, Capo says the current price action is a typical bearish pattern and seems to believe that ETH is about to drop to the next level of support at $1070.
However, the popular analyst previously said that Ethereum could drop as low as $600, triggered by some kind of bad news. had said:
“The trend is still bearish. Indicators point to full capitulation event. The bad news should come soon. ETH is 600-650 dollars. 50-70% potential drop for altcoins. Stay safe, things can get really ugly.”
You can follow the current price action 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.