Altcoins like Ethereum could drop another 40%

Are Crypto Markets Facing Another Crash? causes Bitcoin and Altcoins like Ethereum to crash 40%? Quoted analysts believe so strongly. Meanwhile Binance CEO Changpeng Zhao gives the all-clear.

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Altcoins before crash 40% new?

After Bitcoin and Co. were able to increase slightly just after the Fed, the interest rate was determined. Crypto markets have been moving backwards for the past 24 hours. Since yesterday, BTC has lost about 3%, Ethereum almost 5%, Solana 3.28%. Overall, the crypto market cap lost 2.49% and is now at $ 908 billion.

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The big question now being asked by investors and traders is: Are the markets already established? Are cryptocurrencies rising again now – or are they afraid of another crash?

This has now been commented on by highly cited analysts – unfortunately not optimistic. CryptoCapo_ to its 375,000+ Twitter followers:

“0 reasons to be a policeman here really. Altcoins really seems to be planning to cut another 30-40%. ”

Literally 0 reasons to be a bull here. Altcoins really seem to be looking for another 30-40% drop.
– il Capo Of Crypto (@CryptoCapo_) June 16, 2022

In a new analysis, it issues a warning for Ethereum in particular.

“The parable is broken and the range of trade is confirmed, even testing the base as resistance.”

$ ETH/ BTC
Broken parabola and certified distribution range, even with low range testing as resistance.
Expected 0.0445-0.046 in the short term. pic.twitter.com/oJg5RagKzz
– il Capo Of Crypto (@CryptoCapo_) June 16, 2022

It specifically means: Ethereum expects to correct up to $ 930 in the short term in the BTC pair. For the current ETH price of $ 1,107, this equates to minus about 16%.

The popular industry watcher is also expecting further reductions for Bitcoin. The S&P 500 has reached a new low, Bitcoin should follow, he said assessment.

Binance CEO: “I think that’s pretty normal”

Changpeng Zhao, Founder and CEO of the world’s largest cryptocurrency exchange Binance, Meanwhile, see no cause for concern about the recent crypto crash. He said it was “enough”. CZ:

“I think it’s normal for markets to go up and down. These are normal market fluctuations. We also see on the stock markets that Netflix is also down 70 per cent, so that’s part of the normal market behavior. “

The crypto billionaire also spoke about Terra Luna ‘s brutal crash and its impact on the crypto markets. Hence, they would expect the size of the accident to be smaller. However, CZ adds:

“It simply came to our notice then. Sometimes the burglaries are quite big, so many people were injured. We want to avoid that, but during a bull, many people come in, many want to make short – term money, many are not very good at managing operational risk, and those people become clean. in the next bear market. “

Here you will find the full interview with Changpeng Zhao (English).

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