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| source: capital.com |
This week's crypto markets got
off to a slow start as Ethereum and Bitcoin both fell sharply. Leading
cryptocurrencies like Cardano and Solana decreased by about 8%, signaling the
possibility of further market falls this week. While ADA is currently at its
January 2020 low, BTC is currently at its November 2020 low. Top
cryptocurrencies lost more than 75% of their value since hitting record highs
in late 2021.
According to the anonymous
cryptocurrency analyst "il Capo," the upcoming months will see more
losses for both Bitcoin and Cardano as a result of global macroeconomic
concerns. He forewarned his 669,000 followers that another crash is imminent and
that both BTC and ADA are showing signs of weakness.
Bitcoin (BTC) Next Price Target Prediction
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| Source: Barrons |
Any price increase in the
cryptocurrency markets from this point on could be a bull trap, according to
analyst il Capo. The expert argued that Bitcoin's technical indicators are poor
and advised investors against opening an entrance position at this time. He
declared,
What I observe is as follows:
-Technicals are poor ([BTC] price below June's low, indications negative,
funding reset.
-The same bull traps as before,
only weaker. falling for them by others.
-You are going to miss the train and similar remarks. Really?
-It's not over yet. Final
surrender is likely,"
The analyst predicts that from
its present price of $16,100, Bitcoin will eventually fall to levels between
$12,000 and $14,000.
Happy morning! BTC will
eventually reach $12,000–14,000 in value. He tweeted, "Altcoins
significantly lower (40%-50% decline on average).
Good morning!$BTC to $12,000-14,000 is a matter of time. Altcoins much lower (40-50% drop on average) pic.twitter.com/DEByAUUHQH
— il Capo Of Crypto (@CryptoCapo_) November 18, 2022
BTC Current Price
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| Source: Tradingview |
Cardano (ADA) Next Price Target Prediction
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| Source: Solodev |
Il Capo anticipated that Cardano
will experience severe corrections in the upcoming months, shifting the
spotlight away from Bitcoin. According to his forecast, ADA might decline by
almost 50% from its present levels and hit new lows.
The analyst has assigned a $0.16
target price for ADA and has warned investors that ADA's decline is imminent.
He tweeted "ADA" along with the phrase "A chart is like a
thousand words."
Leading cryptocurrencies will
quickly lose value in the indexes if Bitcoin drops below the $12,000 mark.
Cardano was down 7% in the day's trading as of the time of publication, trading at $0.30. Additionally, it has decreased by 90.1% from the $3.09 all-time high it attained in September 2021.
$ADA pic.twitter.com/hqA2aSWyab
— il Capo Of Crypto (@CryptoCapo_) November 18, 2022
ADA Current Price
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| Source: Tradingview |
