Top Analyst Predicts, Ethereum-Based Altcoin Terra (LUNA) Crash

The crypto analyst who was right about the last big market crash is sending out a new set of warnings, including one about an altcoin based on Ethereum (ETH).

In May, a trader who goes by the name “Capo” told his 690,000 Twitter followers that Waves could be the “next LUNA.” LUNA was the native token of the Terra ecosystem, but it went to zero in May.

Now, Capo says that his prediction about WAVES might be coming true and that the altcoin’s recent drop might be just the beginning.

“Just the beginning.”

Capo is bearish on crypto in the short to medium term, and he expects altcoins to take another big hit before the bear market bottoms out.

“Altcoins look like they could dump 50-80% easily. Remember, there will always be a trigger (expect bad news soon) but charts always talk first.

Stay safe.”

When it comes to Bitcoin (BTC), Capo thinks that prices will fall to around $12,000, which is about 30% less than what they are now.

“BTC simple.”

Capo says that the current price action for Ethereum is typical bearish, and it looks like he thinks that ETH is about to break down to its next support level at $1070.

But the well-known trader and analyst has said before that Ethereum could fall as low as $600, perhaps because of bad news.

“Trend is still bearish. Indicators are pointing to full capitulation event. Bad news should come soon. ETH $600-$650. Altcoins 50%-70% potential drop (s**tcoins even more). Stay safe, things could get very ugly.”