The cryptocurrency market has seen changes as a result of the current Russia-Ukraine crisis, with Bitcoin, the world’s largest and most popular cryptocurrency, falling 3.1 percent to $38,508 in the last 24 hours. The market capitalization of all cryptocurrencies is at $1.82 trillion, down 3.2 percent in the last 24 hours.
In the face of global market uncertainty, a leading crypto strategist predicts that Bitcoin (BTC) and Ethereum (ETH) will continue to fall.
Capo, a pseudonymous analyst, warns his 244,900 Twitter followers against buying the plunge too soon, claiming that the two most valuable crypto assets by market cap might yet lose half of their current value.
Bitcoin, which is presently trading at $38,359, according to Capo, might fall to as low as $20,000.
“Price nuking and supply being added. Be careful with buying too early. I will keep waiting for low 20ks.”
At the time of writing, BTC is trading at $39K down by 2.5% in the last 24 hours. The major resistance is at $40K and the support is at $38K.
According to the analyst, the price of Ethereum, the dominant smart contract platform, might fall as low as $1,100. ETH is now trading at $2,627.08 at the time of writing.
At the time of writing, Ethereum is trading at $2712 down by 3.5% in the last 24 hours. The major resistance is at $3K and the support is at $2.5K.
The trader is also gloomy on the remainder of the altcoin market, claiming that technical signs indicate that prices will continue to fall. He says altcoins continue to dump, even more than BTC. There’s still a lot of potential decline missing based on this chart and every altcoin chart.
Solana fell 7% to $87.21, though it recovered in the early hours of Sunday. Polkadot fell 2% to $17.65, while Dogecoin fell 3.4 percent to $0.125384, but rose in the early hours of Sunday. Shiba Inu fell 6.3 percent to $0.00002381 on Saturday, but then rose 0.4 percent in the early hours of Sunday.