After weeks of correction, crypto markets have been surprisingly bullish again since yesterday. But one of the most frequently quoted chart experts is now warning against an investment, stressing that the crypto markets are on the verge of a new crash that will send BTC and Co. to new lows.
Bitcoin going down again?
Since the collapse of FTX, digital assets have been treading water, leaving investors with only red in the portfolio. That has changed since yesterday: Several coins in the crypto top 100 pump, many of them even in the high double-digit percentage range.
For example, Solana (SOL), one of the most bearish altcoins in the last few months, has given a weekly performance of almost 23%. At Gala (GALA) it is even as much as 147%. Not to mention the new meme coin BONK – which even experienced quadruple-digit growth with an increase of around 2,000%. Not to forget crypto top dog Bitcoin: It even climbed to a 3-week high with its rise above $17,000.
Cryptoanalyst Furkan Yildirim therefore comments:
“Who missed the green days?”
In short: the crypto markets seem to have been revived. Many investors are wondering: Is the Bull Market back? Is a new bull run starting? Should you buy cryptocurrencies now to position yourself for a rally?
Although the current numerous price explosions seem to signal a trend reversal: there are increasing indications that this is just a flash in the pan. In other words, most coins risk giving up their short-term gains – and then correcting them again.
Bitcoin: Will the Crash Come to $12k?
This is what the popular chart expert “CryptoCapo_” for example warns about. For weeks, he has emphasized that Bitcoin and Co. will correct again and reject price jumps as bull traps. In the past, he was always right with his Bitcoin predictions – will he be right this time too? The analyst to his almost 700,000 Twitter followers:
Ask yourself: why am I buying here? Is it because of FOMO? You see random altcoins pumping randomly, as it has since the start of the downtrend, and you feel the need to buy. You might think this might be the bottom.”
But according to the chartist: There is not a single bullish confirmation for this yet. Just look at it, it’s all obvious:
“The downtrend is intact. Bitcoin and most of the market are testing broken supports as resistances. We’ve seen that time and time again.”
His Bearish judgment:
“I’m not buying.”
The question remains: How low can BTC drop now in the event of another correction? CryptoCapo_ issues a price target of up to $12,000 per BTC. The trader expects Bitcoin to go down again by as much as 30%.
$2.8M Raised in Phase 1: Fight Out Coin (FGHT) – Now on Presale
Bitcoin investors interested in adding a Web3 cryptocurrency to their portfolio may also want to take a look at the new fitness coin Fight Out (FGHT). The asset has already raised $2.8 million in the first phase of the pre-sale – this illustrates the huge investor interest in similar Web3 projects.
But what is Fight Out Coin about, what kind of cryptocurrency is FGHT? The team behind Fight Out is developing a special platform that aims to be the bridge between Web2 users and the Web3 world. The app is designed to provide everything the user needs to become Fighting Fit. When you sign up, you indicate your goals, fitness background, available equipment, location, desired workout, time available, and workout or muscle group. Nutrition, sleep and other useful metrics can also be tracked in the app. And best of all: Fight Out Coin (FGHT) is a move-2-earn asset, so it rewards its users with cryptocurrency for all physical activities!