After the digital asset market crash this month, a popular crypto analyst Left (LEFT) and updated its forecasts for several altcoins.
The analyst, known by the pseudonym Altcoin Psycho, bitcoinHe predicts that if the price of (BTC) stays stable, SOL could bounce as high as $17 before falling again. On the other hand, the analyst generally predicts that the altcoin price will eventually drop below the $12 level or even drop back to $3, considering that the network is still “in uncertainty.”
SOL is trading at $13.07 at the time of writing. The 17th-ranked altcoin by market cap has increased by 14.62 percent in the last 24 hours.
Altcoin Psycho, decentralized derivatives exchange Serum (SRM) predicts a larger decline. The analyst attributes the project to the collapsed crypto exchange FTX and predicts that the price of the cryptocurrency will drop completely to $0.
Additionally, Altcoin Psycho warns its followers to avoid FTX’s collapsed native token, FTT.
“Never buy this unless you want to short-term trade. […] It looks terrible. Still, this coin will go to $0. Finally.”
The analyst is also bearish on the decentralized exchange SushiSwap (SUSHI). He says he “does not see any reason to buy this token.” He thinks the altcoin price will drop to $1 and then possibly even lower.
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.