More price decreases are expected in the already turbulent altcoin markets, according to a well-known cryptocurrency expert.
Capo, a pseudonymous crypto trader, predicts that cryptocurrency values will decline in the next few days to his 318,700 Twitter followers.
Capo claims that over the next few days will see another 40-50% drop as indicated by almost every indicator. And he hopes to see a recovery rally after that for some weeks as this could be the final stretch.
No New ATHs Anytime Soon
On the other hand, Capo does not anticipate that new all-time highs will be reached anytime soon. This statement comes up because he says that though there is an expectation of a good recovery after the last leg down where 100-50% bounce will be seen based on the coin, later in 2022 we will again experience another bear market. Hence Capo says he is not forecasting any new ATH until mid or late 2024.
THORChain (RUNE), a decentralized exchange protocol aimed at facilitating the safe and inexpensive movement of assets between multiple blockchains, is expected to experience tremendous volatility, according to the expert.
RUNE, THORChain’s native asset, is currently trading at $2.94 at the time of writing. In the last 24 hours, the 55th-ranked crypto asset by market size has lost 3.11%.
Capo published a chart suggesting that he believes RUNE might go as low as $1.09, a decline of approximately 65%. According to the chart, the crypto asset might then rise to around $3.70.