The popular crypto analyst who predicted the collapse of Bitcoin (BTC) in May 2022 is again warning the market in advance. According to the analyst, the top 10 digital assets may soon face sharp declines in their prices, he says. The analyst especially drew attention to Ethereum and BNB.
Crypto trader Capo, known by the alias Capo, addressed his 677,000 Twitter followers. Capo said he expects Ethereum (ETH) to correct between $600 and $650. The second-largest crypto asset by market cap is changing hands at $1,218, up 2.64% in the last 24 hours. A pullback in Capo’s price prediction represents a roughly 50% drop for ETH.
The strategist then turned his attention to Binance Coin (BNB), the local asset of Binance, the world’s largest crypto exchange by volume. Capo predicts that if BNB drops below $250 and confirms it as resistance, the token will fall to the $125 to $135 range. BNB is currently worth $308. A price drop in the trader’s bearish price target marks a roughly 60% correction for the crypto asset.
Of course, this is not the only perspective while Capo predicts a decline in Ethereum and BNB. Market intelligence firm Santiment says crypto markets, including ETH, could rise as traders show signs of capitulation. The company Insights highlighted that traders are currently bearish on crypto. He states that this can create an atmosphere in which the markets can bounce.
“The word ‘dead’ is fast circulating on crypto platforms in November. As one of the more bearish-sounding words, this is a sign that traders are giving up on the markets’ recovery. Ironically, this capitulation is historically when markets have recovered.”
Santiment also looks into ETH-based whale and shark activity. He says that assets with deep pockets have swallowed the largest altcoin in the most significant rate of two years.