It’s been revealed that despite the crypto market’s massive volatility, there are all kinds of optimistic predictions about some of the most important coins. Check out the latest reports below.
BTC, ETH, and ADA new predictions are out
The analyst addresses BTC and says that the king coin will hit new lows if it falls below the $19,000 level.
According to Capo, Bitcoin’s recent rise above $20,000 was a “dead cat bounce.”
This was met by selling on the FTX crypto exchange. A dead cat bounce is a move to the upside in a bearish trend.
“Dead cat bounce to $20,000 again to punish late shorters. At the top of it, FTX started pushing down. Clear corrective move to the upside. Nothing has changed. Break below $19,000 = new lows.”
Capo also made sure to highlight the fact that Bitcoin’s bottom that formed around $30,000 mid-last year mirrors the current price action.
The crypto analyst is targeting a floor price for BTC between $15,800 and $16,200.
“$30,000 bottom formation (June-July 2021) vs. current price action. Expecting deviation below the current range low, which is $17,700. Main target remains $15,800 – $16,200.”
Regarding Ethereum, the crypto trader says a fall below $1,000 by ETH could trigger a plunge of over 30% from the current price.
He also had something to say about Cardano.
He said that regarding ADA, he is “very bearish” on the digital asset.
“ADA Support broken and now tested as resistance. Very bearish.”
Bitcoin accumulation frenzy
It’s been just revealed that the richest non-exchange Bitcoin (BTC) whale continues to gobble up BTC as the largest crypto by market cap hovers near $20,000.
According to data from BitInfoCharts, the whale address has added 1,480 BTC since June 30th, bringing its total to about 132,883 Bitcoin, worth nearly $2.7 billion, as the online publication the Daily Hodl notes.
The wallet currently holds its largest balance of Bitcoin ever, as per the same online publication.