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Most Altcoins Predicted to Drop "Another 50-99 Percent" by Crypto Analyst Alex Krüger

  • Alex Dovbnya
    📰 News

    Alex Krüger has a dire warning for those crypto investors who expect another alt season to come any day

Most Altcoins Predicted to Drop "Another 50-99 Percent" by Crypto Analyst Alex Krüger
Cover image via u.today

Prominent cryptocurrency trader Alex Krüger is certain that the lion's share of altcoins will eventually drop by up to 99 percent, delivering a final blow to their bagholders. 

Krüger says the market will not remain "mispriced" forever, but he didn't specify when alts will take a hit. He also didn't predict what specific coins will suffer the biggest losses. 

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Almost 3,000 altcoins have been added to CoinMarketCap as of October 2019. There is a good chance that the overwhelming majority of these projects do not have anything apart from a white paper. 

The ICO bubble that nearly allowed Ethereum, the number one altcoin, to topple Bitcoin back in June 2017 created a myriad of worthless projects that struggle to surpass their initial valuation

Krüger's comment comes after a prolonging crypto winter that has dwindled the price of almost all altcoins. ETH is currently down by more than 86 percent from its ATH high that was recorded on Jan. 15, 2018. 

Even if a given project is legitimate and transparent, there is no guarantee that it will somehow stay above the fray. For example, Krüger states that the market cap of Santiment (SAN) should be around $3 mln contrary to its current valuation of $29 mln.

There is also another major pain point for alts — regulatory pressure. As reported by U.Today, GXChain, a token whose market cap was nearing $600 mln back in January 2018, was abruptly shut down by Chinese authorities back in September.   

What altcoins will be able to retain or increase their value? Share your suggestions in the comments! 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
    📰 News

    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

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Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

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Crypto Analyst Doesn't Expect Bitcoin Price to Repeat Past Halvenings

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As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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