Analyst Capo, who is closely followed by crypto money investors, shared that he is pessimistic about the course of 3 crypto assets.
Starting his analysis with Bitcoin (BTC), Capo told his followers on his twitter account that he expects the flagship cryptocurrency to drop by 50% from current levels. Capo also claimed that altcoin prices will drop drastically as the total cryptocurrency could lose more than half of its market cap value.
“I expect a 50%-70% pullback in the entire market (50% for BTC, 70% for altcoins)”
Capo said earlier this week that Bitcoin (BTC) will likely fall below $30,000. In addition, Capo, who describes the rise of the leading crypto currency from the level of $ 38,500 as "a dead cat leap", says that a decrease will come as soon as possible.
The popular analyst conveys to his followers that his main target for Chainlink is 70% lower than the current price. Capo, who set LINK's main target as $5.00 – $5.50, has drawn the reaction of LINK investors. Chainlink, the star of past bull seasons, is hovering around $13.51 at the time of writing.
SAND, the native token of the blockchain-based virtual gaming world The Sandbox, attracted attention as the third crypto-asset that Capo claims to be in a bearish trend. While Capo says that SAND has formed a descending triangle pattern similar to that Bitcoin formed in 2018, he believes that it will lose 60% of its value compared to this formation.
US State Decided to Keep Bitcoin (BTC) in its Treasury!
Tennessee, an important state of the United States, is taking a critical step towards the crypto industry. The state, which has been known for its close stance to Bitcoin and cryptocurrencies for a while, has started looking for companies that can store crypto assets in the name of the treasury.
In its job offer, the Tennessee state treasury asked companies to explain how they would manage virtual currencies like Bitcoin to be found in the treasury, local news outlet Nashville Post reported.
While Tennessee still has no crypto assets in its treasury, it was stated that this step was taken to be prepared if unclaimed cryptocurrencies were sent to the state's newly created 'unclaimed property program'. The fact that the Tennessee state treasury currently holds over $1 billion in assets excites Bitcoin investors.