Analyst That Called Last Crypto Collapse Says Ethereum-Based Altcoin Mirroring Terra (LUNA) Crash

The crypto analyst recognized for precisely calling the final main market collapse is issuing one other sequence of warnings, together with one about an Ethereum (ETH)-based altcoin.

The pseudonymous dealer often called Capo instructed his 690,000 Twitter followers in Might that Waves may very well be the “subsequent LUNA,” the native token of the Terra ecosystem which went to zero in the identical month.

Now, Capo says that his call on WAVES may very well be coming to fruition and that the altcoin’s latest downward transfer might simply be getting began.

“Just the start.”

Supply: Capo/Twitter

Capo is brief to medium-term bearish on crypto basically, and is anticipating one other sizeable haircut for altcoins earlier than the bear market finds a backside.

“Altcoins appear to be they might dump 50-80% simply. Bear in mind, there’ll at all times be a set off (anticipate unhealthy information quickly) however charts at all times discuss first.

Keep secure.”

Bitcoin (BTC), Capo is predicting a drop to round $12,000, or which is about 30% down from present costs.

“BTC easy.”

Supply: Capo/Twitter

As for Ethereum, Capo says that present worth motion is typical bearish, and seems to imagine that ETH is about to interrupt right down to its subsequent help degree at $1070.

Supply: Capo/Twitter

Nonetheless, the favored dealer and analyst has beforehand known as for Ethereum to drop as little as $600, maybe triggered by some sort of unhealthy information.

“Pattern continues to be bearish. Indicators are pointing to full capitulation occasion. Unhealthy information ought to come quickly. ETH $600-$650. Altcoins 50%-70% potential drop (s**tcoins much more). Keep secure, issues might get very ugly.”

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Featured Picture: Shutterstock/Andy Chipus/LongQuattro/bluefish_ds

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