A preferred crypto strategist and dealer thinks that Bitcoin (BTC) and the altcoin markets are poised for a large correction.
The pseudonymous crypto analyst Capo tells his 266,300 Twitter followers that Bitcoin’s “principal goal” is between $21,000-$23,000.
Bitcoin is buying and selling at $36,117.66 at time of writing, down greater than 6.5% in the previous week.
Capo additionally thinks altcoins may very well be on the verge of a serious break to the draw back.
“Altcoins index is about to interrupt the primary assist. Next assist is 50% decrease. Real capitulation beneath this stage.”
The pseudonymous crypto analyst additionally says that Ethereum (ETH) is not going to be spared by his predicted corrective transfer.
“ETH principal goal is $1,100-$1,300, and that’s 50%, not 70%.”
At time of writing, Ethereum is altering arms for $2,688, down 2.41% in the previous day.
The dealer predicts comparable losses for SAND, the native token for blockchain-based digital gaming world The Sandbox. Capo thinks The Sandbox will plummet to the $0.95-$1.00 vary after bears took out a vital assist space.
“SAND.”
SAND, the Forty fourth-ranked crypto asset by market cap, is buying and selling at $2.07 at time of writing, down greater than 10% in the previous week. A transfer to Capo’s bearish goal of $0.95 represents a draw back potential of over 50% for SAND.
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Disclaimer: Opinions expressed at The Daily Hodl will not be funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any loses it’s possible you’ll incur are your accountability. The Daily Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please word that The Daily Hodl participates in affiliate internet marketing.
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https://dailyhodl.com/2022/05/07/top-trader-capo-issues-warning-about-bitcoin-btc-and-altcoins-as-crypto-markets-suffer-downtick-in-price/
