One of the most respected crypto analysts warns that Bitcoin is in danger of sudden collapse.
Crypto Capo, a pseudonymous cryptocurrency strategist, told his 121 953 subscribers in a recent post to the messaging app Telegram that Bitcoin’s value could fall by over 34%.
Analysts predict that first, flagship crypto assets will rise before experiencing a sharp correction.
Shorting this trade is a complete waste of time. “Shorting here makes no sense at all.”
The trader, looking at his chart says that Bitcoin could plummet down to $60,000. It had previously reached a high of $98,000.
Bitcoin has risen by 5.1% over the past 24 hours to $91,690.
The analyst is also bullish in the near term on Ethena, a synthetic dollar built on Ethereum.
I consider ENA to be a medium-term investment. This is why I will only hold it for August/September (subjected to changes/adaptation). It has created a huge range. A bounce back to $0.50 or $0.55 is still logical, as the bearish trend has been oversold. Then, I could be talking about the final capitulation. If it happens, I’ll buy more. Hold .” if you don’t want to.
ENA currently trades at $0.30, an increase of 6% over the past 24 hours.
The analyst believes that the Layer-1 asset, Toncoin (TON), may rise and surpass resistance at $4.58. It will then plummet to about $2.10.
TON has risen 2.9% in the last day to $3.
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Sources of Images include Pixabay Creative Commons & Midjourney
As new information becomes available, this post may change.
