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Renowned analyst Peter Brandt claims that the Cardano’s price can smoothly fall by 90%.
Cardano’s price could fall by 90% – says Peter Brandt
He bases his opinion mainly on his analysis, in which he expects the creation of the H&S formation. If this analysis were valid, the price could fall as low as $ 0.1. At the same time, he reminds that we should not forget the year 2018, when with a 90% correction on altcoin, the holders could breathe anyway. Most altcoins lost more than 95% of their value during the last bear market.
I remember being scoffed at unmercifully when I identified this top in $LTCUSD back in mid 2018
Hey Cardano trolls $ADAUSD , take aim… pic.twitter.com/3gytNHW4cR
— Peter Brandt (@PeterLBrandt) July 30, 2021
ETH will reach $ 14,000 later this year
The popular analytical company TradingShot has published a very interesting prediction for the second largest cryptocurrency ETH. It predicts significant price growth to $ 14,000.
The company relies on fractal analysis, according to which we can follow the development of the Ethereum price in cycles. If this analysis were to be valid, the price could reach $ 14,000 in the very near future.
The US is preparing for a new crypto law
The new law in the USA should solve problems with the regulation of cryptocurrencies. A bill called “The Digital Asset Market Structure and Investor Protection Act of 2021” will cover all digital assets, including cryptocurrencies. This law has advantages and disadvantages for cryptocurrency investors. On the one hand, it is to increase the powers of the regulator, which will supervise cryptocurrency, on the other hand, all crypto companies, especially exchanges, will have to report all user transactions on a regular basis. Anonymity can thus completely disappear in the cryptoworld.
57,000 BTCs left the exchanges
During the day, the exchanges disappeared 57,000 BTC. The outflow of money from exchanges is a long-term phenomenon that we can observe for almost a year. During that time, more than half of all coins have disappeared from crypto exchanges. It is quite probable that investors expect further growth and so they have transferred the money to safer place, and that ‘s wallets.
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