Top trader Capo issues warning about bitcoin (BTC) and altcoins as crypto markets face price collapse – Daily Hodl
A popular crypto strategist and trader feels that the Bitcoin (BTC) and altcoin markets are poised for a massive correction.
Pseudonym crypto analyst Capo says He has 266,300 Twitter followers saying that Bitcoin’s “main target” is between $21,000-$23,000.
Source: capo/twitter
At the time of writing, bitcoin is trading at $36,117.66, up 6.5% from the previous week.
Capo also believes that the altcoin could be on the verge of a major decline.
“The Altcoin Index is about to break a key support. The next support is 50% lower. Actual capitulation below this level.”
Source: capo/twitter
Also pseudonymous crypto analyst They say That Ethereum (ETH) will not be spared from its predicted corrective move.
“ETH’s main target is $1,100-$1,300, and it is 50%, not 70%.”
At the time of writing, Ethereum has changed hands at $2,688, down 2.41% over the past day.
Trader predicted similar losses for SAND, the native token for the blockchain-based virtual gaming world The Sandbox. Capo believes that the sandbox will drop to the $0.95-$1.00 range once the bears break out of an important support area.
“Sand.”
Source: capo/twitter
SAND, the 44th ranked crypto asset by market cap, is trading at $2.07 at the time of writing, down over 10% in the past week. A move towards Capo’s bearish target of $0.95 represents downside potential of over 50% for SAND.
check price action
Don’t miss a beat – Subscribe to have crypto email alerts delivered straight to your inbox
follow us on TwitterFacebook and Telegram
Surf the Daily Hodl Mix
Check out the latest news headlines
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and trades are at your own risk, and any loss you may incur is your responsibility. Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is Daily Hodl an investment advisory. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Blue Planet Studio/Nickelsar Kate