Popular cryptocurrency strategist and trader believes that the Bitcoin (BTC) and altcoin markets are preparing for a massive correction.
Cryptanalyst Capo pseudonym Says His 266,300 followers on Twitter say the “main target” for Bitcoin is between $21,000 and $23,000.
Bitcoin It is trading at $36,117.66 at the time of writing, down more than 6.5% in the last week.
Capo also believes that altcoins could be on the verge of a major breakout to the downside.
“Altcoins are about to break major support. Next support is 50% lower. Real capitulation below this level.”
cipher parser too Says Ethereum (ETH) will not survive its expected corrective move.
“The main target for ETH is $1,100 – $1,300, that’s 50%, not 70%.”
At the time of writing this report, Ethereum Hands change at $2,688, down 2.41% in the past day.
The trader expects similar losses to SAND, the original token of the blockchain-based virtual gaming world The Sandbox. thought capo sand It will drop to the $0.95-$1.00 range after the bears took an important support area.
“sand.”
SAND, the 44th crypto asset by market capitalization, is trading at $2.07 at the time of writing, down more than 10% in the past week. A move to the downside Capo target of $0.95 represents a more than 50% downside potential for Sand.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
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