Crypto Analyst Issues Warnings For Cardano (ADA) And New ‘Solana Killer’ Altcoin – Here Are His Predictions
A popular crypto analyst is warning investors about Cardano (ADA) and the new altcoin project Aptos (APT).
The pseudonymous analyst known as Pentoshi warns his 623,200 Twitter followers that the ADA could fall another 50% and never recover.
“ADA now loses the lights out level and goes to the place where the coins go when they die. Prob got -50% in it from that collapse level, in my opinion. And I am in no way wondering about it. I posted charts for almost several altars like this, including Solana and Ethereum in December-January.”
Turning his gaze towards Aptos, often referred to as the “Solana Killer,” Pentoshi says investors should not go near the new project, and chart a steady decline in value.
“Personally would not go near Aptos. I think it added a value of $2 billion. There are much better things out there. Don’t think this is one (yet). Maybe in the short term you get volatility. But in my opinion the chart will end up something like this over time. Let time and price prove otherwise.”
Pentoshi also weighs in on the overall crypto market, taking a bearish position. He says crypto exchanges are losing users and that results in less money going to crypto projects.
“Do with it as you will. But in the grand scheme of things, that means I’ll be selling the reds, and probably not buying the dips again in case we revisit the spectrum.”
While Pentoshi says the current prices of many cryptos are a good value, he believes they are not sustainable and new lows may be coming.
“Are these likely to be good long-term values? I will say that. We will also probably go lower. I would have to guess yes since people are flowing out > inflow based on the limited data we have. And that many will be forced to sell to cover job losses, inflation, etc.”
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Featured image: Shutterstock/gg_tsukahara/Mingirov Yuriy
