Top Trader Capo Issues Warning About Bitcoin (BTC) and Altcoins As Crypto Markets Suffer Downtick in Price

A popular crypto strategist and trader thinks that Bitcoin (BTC) and the altcoin markets are poised for a massive correction.

The pseudonymous crypto analyst Capo tells his 266,300 Twitter followers that Bitcoin’s “main target” is between $21,000-$23,000.

Source: Capo/Twitter

Bitcoin is trading at $36,117.66 at time of writing, down more than 6.5% in the past week.

Capo also thinks altcoins could be on the verge of a major break to the downside.

“Altcoins index is about to break the main support. Next support is 50% lower. Real capitulation below this level.”

Source: Capo/Twitter

The pseudonymous crypto analyst also says that Ethereum (ETH) will not be spared by his predicted corrective move.

“ETH main target is $1,100-$1,300, and that’s 50%, not 70%.”

At time of writing, Ethereum is changing hands for $2,688, down 2.41% in the past day.

The trader predicts similar losses for SAND, the native token for blockchain-based virtual gaming world The Sandbox. Capo thinks The Sandbox will plummet to the $0.95-$1.00 range after bears took out a crucial support area.

“SAND.”

Source: Capo/Twitter

SAND, the 44th-ranked crypto asset by market cap, is trading at $2.07 at time of writing, down more than 10% in the past week. A move to Capo’s bearish target of $0.95 represents a downside potential of over 50% for SAND.

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The post Top Trader Capo Issues Warning About Bitcoin (BTC) and Altcoins As Crypto Markets Suffer Downtick in Price appeared first on The Daily Hodl.