It appears like yet again the crypto market has decided to close the weekend on a bearish note as the majority of cryptocurrencies are trading on a red note. The global crypto market has dropped by 0.82% over the last 24hrs.
Along with Bitcoin, altcoins like Ethereum, Cardano, Solana, XRP among others have been pulled back on a bearish trend after facing a slight upward movement.
Amidst this bear movement, a closely followed crypto analyst is issuing a warning against Cardano (ADA) and the newly introduced altcoin, Aptos (APT).
Cardano (ADA) Price To Lose 50%
The analyst who is anonymously known as Pentoshi informs his 623,200 Twitter followers that Cardano is on the verge to lose another 50%. To make it worse he claims that ADA might never recover.
Hence, he asserts that he is nowhere considering Cardano to trade.
At the time of reporting, Cardano is selling at $0.34 after a fall of 3.99% in the last 24hrs.
Aptos (APT) Price To Drop
Next, the analyst talks about Aptos which is a competitor against Solana and urges traders to not even think of investing their money in a new project. He believes the currency will soon find its ground.
He gives out a chart and claims that though the currency will face ups and down initially, Aptos will not make any upward move once it falls. However, he then says that let time prove its worth.
Currently, Aptos gas gained 1.77% over the last 24hrs and is trading at $7.55.
Before Pentoshi wraps up his analysis he talks about the overall crypto market where he portrays a bearish stance. As per the analyst, the crypto exchange platforms are witnessing a decline in its users which indicates decreased inflow of money in Crypto projects.
Furthermore, Pentoshi is of the opinion that though most of the cryptocurrencies are in a good position, their value will plunge to new lows.
Was this writing helpful?