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.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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