A widely watched cryptocurrency analyst and trader has warned of further declines in digital asset prices after a rough week for cryptocurrencies.
Pseudonym Crypto Strategist Capo To tell His 627,100 Twitter followers are set to see Bitcoin (BTC), Ethereum (ETH), and altcoins all experience double-digit percentage losses.
“For the final surrender event that is supposed to take place this week, I expect the following:
16-20% drop for BTC, 36-40% drop for ETH, 40-45% drop for altcoins. ”
Bitcoin is trading at $16,599 and Ethereum is trading at $1,192 at the time of writing.
Looking to Capo, the native token of the smart contract-enabled blockchain TRON (TRX), To tell He predicts that TRX will drop significantly.
“Yesterday Justin Sun followed me. I have some bad news for Justin.
From the chart, Tron appears to be forming a descending triangle, with crypto analysts expecting it to drop by around 60%.
Tron is trading at $0.0561 at the time of writing.
As for Cardano (ADA) and Polkadot (DOT), Capo said they could form a local bottom after two ethereum rivals fell by up to 49% and 40% respectively.
Crypto Analysts Not Only Set Minimum Targets For Bitcoin And Ethereum To tell Litecoin (LTC) could drop 46% while crypto exchange token FTX (FTT) could drop more than 99%.
“Potential targets for local bottoms after a surrender event:
BTC $13,000 – $14,000
ETH $700 – $750
ADA $0.18 – $0.23
LTC $29 – $32
Dot $3.4 – $3.6
At the time of writing, Cardano is trading at $0.35 while Polkadot is trading at $5.68. At the time of writing, Litecoin is trading at his $53.34 and FTT at his $2.71.
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