After the insolvency of the crypto exchange FTX, Bitcoin and Co. are under massive pressure. The forecast is grim, expect another crash – for Bitcoin as well as Ethereum and Altcoins. What do investors need to know now?
Crypto Markets Under Pressure After FTX Bust
Crypto markets are in shambles to say the least. FTX, Binance, BlockFI, falling prices, panicked investors: events happen. Amid the chaotic situation, one of the industry’s best-known traders is now dropping the forecast bombshell, warning: Bitcoin and Ethereum and most altcoins are at risk of a brutal crash that will propel them to new lows. local.
Many coins have only just recovered: After the US Department of Labor released positive Consumer Price Index numbers yesterday, many digital assets have soared. The result: many daily benefits.
Bitcoin, for example, is currently up 3.48% in the past 24 hours, trading at $17,400. Ethereum, currently at $1,279, is up 6.27% (data from Coinmarketcap.com). Binance Coin (BNB) is up 5.52%, Ripple’s XRP is up 8.24% and Polygon (MATIC) is up 16.16%. Even Solana, recently penalized with a loss of more than 50%, managed to climb to around 23%.
However, many analysts and traders assume that this could just be a flash in the pan. In other words, just as the pendulum is now swinging one way, it will soon swing back the other way – and thus sending cryptocurrencies to new lows.
Bitcoin: Trader warns of a severe correction
So thinks top trader pseudonym “il Capo of Crypto” (@CryptoCapo_ on Twitter). The chart expert is convinced: Bitcoin, Ethereum and Altcoins are on the verge of a sharp correction, which will lead to losses in the high double-digit percentage range – in all areas. The popular analyst predicts it should happen this week:
“For the final surrender event, which is expected to take place this week, I expect:
Drop of 16-20% in BTC, 36-40% in ETH and 40-45% in altcoins.
A worst-case 20% decline would drop Bitcoin from $3,480 – to a price of $13,920! Ethereum, on the other hand, would only be worth $767 after a 40% drop, according to forecasts.
The bearish forecast does not end with Bitcoin and Ethereum, CryptoCapo also sees all Altcoins under pressure. For TRON (TRX), for example, he predicts a 60% crash, writing to his 638,000+ Twitter followers:
“Follow me since yesterday [Tron-Gründer] Justin Sun. I have bad news for you, Justin. I say things as I see them. And what I see for $TRX now is a major drop ahead.
To do this, the trader displays a chart on which TRX withdraws more than 60% of its current price.
In short: A wild wind is currently blowing through the crypto markets. Investors are likely to wait a while for good news – caution is advised.
Promising Alternatives: Two Emerging Crypto Presales
Investors interested in new coins with potentially explosive price action might also take a look at two new crypto pre-sales – cryptocurrencies that are not yet available on the open market and are still in the very early stages. early stages of their development.
Dash 2 Exchange: The Dash 2 Trade (D2T) team is developing an AI-powered trading platform that aims to help investors transact profitably in the crypto markets.
It should succeed with features like trading signals, understandable on-chain analysis and hot new coin notifications. In presale, Dash 2 Trade has already been able to generate strong demand and raise over $5.8 million in capital!
Here for the Dash 2 Trade presale
RobotEra: With RobotEra (TARO), a promising new Metaverse project is entering the market – similar to the flagship coin The Sandbox (SAND). It was able to maintain a $1 billion market cap even in the bear market – and RobotEra is also targeting the bull regions. RobotEra is one of the newest presales in recent times – so anyone who gets started now will get TARO tokens at the cheapest presale price.
Click here for the RobotEra presale