Popular crypto strategist issues dire warning on altcoins that exploded over 330% in one month

Popular Crypto Analyst Strategist

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Categories: Bitcoins Cryptocurrency Cardano

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Popular crypto strategist issues dire warning on altcoins that exploded over 330% in one month

A widely followed crypto analyst is issuing a warning to investors about an altcoin that has risen over 330% since August. A pseudonymous trader known as Crypto Capo tells his 510,000 Twitter followers that he believes Terra Luna Classic (LUNC), a rebranded version of stablecoin issuer Terra (LUNA),is bad news and Investors should stay away from it.

LUNA crashed in May after the stable coin fell against the US dollar, causing its price to drop by more than 99.9%. According to Capo's chart, LUNC is due for a massive crash in the coming days. At the time of writing, the crypto asset is currently trading at$0.000439, down 16.46% on the day, but up a whopping 337% since the beginning of August.

Analysts give a bearish outlook for a handful of digital assets, including bitcoin (BTC). Capo predicts that the top crypto asset by market cap will climb to the $22,500 to $23,000 range after finding support near $19,600. The analyst's chart indicates that he believes that King Crypto will fall into a “buy zone” of $14,000 to $16,000 in October.

 

Bitcoin is currently headed towards $21,290, a gain of 9.8% on the day. Capo is also eyeing smart contract platform Cardano (ADA). His analysis suggests that Cardano will rise to around $0.55before falling to the $0.35 area in mid-September.

The analyst’s chart indicate he believes the king crypto will dip into the “buy zone” of $14,000 to $16,000 sometime in October. Bitcoin is currently moving for $21,290, a 9.8% gain on the day. Capo also has his sights on smart contract platform Cardano (ADA). His analysis shows that Cardano will rise to around $0.55 before dipping to the $0.35 area in the middle of September.

Crypto Analyst, Cryptocurrency, Bitcoin, LUNC, Terra, Cardano, Crypto capo, Digital assets, Buy zone, Smart contract, Crypto asset

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