A bitcoin market analyst says bitcoins and altcoins are now in a critical situation. The continuation of the downward trend may lead to a sharp decline in the price of these digital currencies.
According to the Daily Hoodel, a digital currency analyst nicknamed Capo told his 266,300 Twitter followers that Bitcoin’s “main price target” is somewhere between $ 23,000 and $ 21,000.
At the time of writing, bitcoin is trading at about $ 34,400 and has lost about 10 percent of its value in the last seven days.
In addition, Capo believes that altcoins are at a very critical point and their prices may fall sharply in the future.
ALT-PERP index [که متوسط قیمت آلت کوینهای منتخب بازار را اندازهگیری میکند] On the verge of breaking its main support. The next support for this index is 50% lower than its current level. As the index falls below this level, the pressure to sell in the Alt Quinn market will increase.
Capo said his predictions for the Atrium were also correct and that the digital currency could face future adjustments.
About the atrium he said:
The main goal of the Atrium is $ 1,100 to $ 1,300. This means that the price of the Atrium has been reduced by 50%; Not 70%.
At the time of writing, the Atrium is trading at about $ 2,500 and has lost about 5 percent of its value in the last 24 hours.
According to Capo’s predictions, “SAND”, the natural symbol of the Chinese blockbuster game Sandbox, will continue to face such a correction. He says the price of the digital currency could fall in the range of $ 0.95 to $ 1.00 as sellers have just crossed the important chart support zone.
In terms of market value, Sandbox is the 44th largest digital currency on the market. The digital currency traded at $ 1.9, which is 5% less than the previous day. The move to the downward trend of Capo at $ 0.95 shows that the sandbox has the potential to experience a correction of 50% or more.
An analyst warns: Bitcoin’s next target of between $ 21,000 and $ 23,000 first appeared in Digital Currency.