Today, the overall crypto market is depicting a bullish sign where the majority of cryptocurrencies are trading green. Bitcoin has surged by 0.21% over the last 24hrs while Ethereum has moved up by 1.15% since the last day. However, other altcoins like Cardano, Solana, MATIC have plunged among others. This momentum has pushed the global crypto market by 0.45% and is positioned at $923.92 Billion.
However, a popular crypto analyst is predicting a bottom for Bitcoin and other cryptocurrencies.
In a recent video, the analyst known as Jasson Pizzino tried to convey his prediction to 276,00 Youtube subscribers that there are high chances that the total market capitalization of crypto assets might plunge another 40% of its value.
He says that at present the total crypto market cap is down by 74% hitting its June low of $762 billions. He then claims Bitcoin to drop another 10%, Ethereum another 20% along with other cryptocurrencies.
Currently, the total crypto market cap is selling around $887 billion.
Bitcoin (BTC) Price
Next, as he discusses Bitcoin, the analyst claims that Bitcoin might plunge to the levels of July 2020. He then says Bitcoin might give up another 40% and fall between $11,000 and $11,500.
At present, Bitcoin is valued at $19,155 with a surge of 0.26% in the last 24hrs.
Cardano (ADA)
The next currency that has caught the traders attention is Cardano (ADA) where he expects a much deeper correction and asserts ADA to plunge at $0.17
At present, Cardano is selling at $0.39 after a fall of 0.76% in the last 24hrs.
Solana (SOL) Price
The last currency that the analyst talks about is Solana (SOL) and predicts a fall below $20 if the overall crypto market sees a loss of 40% of its value. He then says if Solana follows Cardano, SOL might give up 60% and fall at $12 range.
At the time of writing, Solana is valued at $31.28 after a drop of 0.55% since the last day.
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Source: https://coinpedia.org/bitcoin/bitcoin-and-other-altcoins-to-drop-nearly-40-claims-top-analyst/