A widely followed cryptocurrency analyst and trader is warning of a further drop in digital asset prices after a rough week for crypto.
“For the last capitulation event, which should be this week, I expect:
16-20% drop on BTC, 36-40% on ETH and 40-45% on altcoins.”
Bitcoin is trading at $16,599 at time of writing, while Ethereum is changing hands at $1,192.
“Yesterday, Justin Sun followed me. I have some bad news for you Justin. I say things as I see them. And what I see now for TRX is an incoming big drop.”
From the charts, it appears that Tron is forming a descending triangle and the crypto analyst expects it to fall by around 60%.
Tron is trading at $0.0561 at the time of writing.
“Potential targets for a local bottom after capitulation event:
BTC $13,000 – $14,000
ETH $700 – $750
ADA $0.18 – $0.23
LTC $29 – $32
DOT $3.4 – $3.6
Cardano is trading at $0.35 at time of writing, while Polkadot is changing hands at $5.68. At time of writing, Litecoin is trading at $53.34, while FTT is trading at $2.71.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE-2
The post Crypto Strategist Predicts Big Drop for Bitcoin (BTC), Ethereum (ETH), TRON (TRX) and Two ETH Rivals appeared first on The Daily Hodl.