CryptoCapo predicts that Ethereum will fall to $ 700

A cryptocurrency analyst and trader known on Twitter as @CryptoCapo_ has published a new forecast for the value of major cryptocurrencies, and the analyst is pessimistic about the near future of some tokens. Ethereum expects to fall to the range of $ 700 to $ 750, Capo is convinced. At the time of writing, ETH is trading at $ 1190, having lost more than 22% of its value over the past 7 days.

Potential targets for a local bottom after capitulation event:$BTC 13k-14k$ETH 700−750$ADA 0.18−0.23$LTC 29−32$DOT 3.4−3.6$FTT 0.1

— il Capo Of Crypto (@CryptoCapo_) November 9, 2022

The analyst also shared his own forecast for the value of the flagship cryptocurrency, which, according to Capo, will be trading at $ 13,000 by the end of this week. It is likely that reaching this mark will be a local bottom for bitcoin and will mark the beginning of the growth of the crypto market as a whole. It is worth noting that yesterday, Capo was more optimistic and predicted that bitcoin would fall to $ 14,000. Currently, BTC is trading at $ 16,671, down 17.86% over the past week.

The trader also predicted new lows for Cardano (ADA) — $ 0.18-$ 0.23, for Litecoin (LTC) — $ 29-$ 32, and for Polkadot (DOT) — $ 3.40-$ 3.60. Capo’s March prediction of a 50% drop in the flagship cryptocurrency has come true, so the crypto community has reason to believe the expert’s current forecasts.