A widely followed crypto analyst warns that a rival to Dogecoin (DOGE) could suddenly collapse as digital asset markets stagnate.
Pseudonymous analyst Kaleo says its 596,300 followers on Twitter that Pepe (PEPE) could drop more than 50% from its current value.
The trader uses an inverse chart, which shows that Pepe could suddenly lose its value from $0.000000787, at the time of writing, to $0.000000390.
“I am very optimistic about PEPE. It appears to have been broken and should easily return to highs. “Send it quickly.”
Source: Kaleo/X
Then the merchant says Bitcoin Cash (BCH) is likely to continue falling in a bearish trend as it retests a key support level at $191.21.
“BCH looks pretty heavy after last week’s complete pump pullback. Send it below.”
Source: Kaleo/X
The merchant also predicting Bitcoin Cash will continue in a descending triangle against Bitcoin (BTC).
“BCH/BTC looks for something like this.”
Source: Kaleo/X
Its chart suggests that BCH/BTC will fall to 0.00610 BTC ($157.76) in a few days. At the time of writing, BCH/BTC is trading at 0.00745 BTC ($193).
Kaleo also has his opinion on Bitcoin. He predict The king of cryptocurrencies will experience volatility until a decisive bull cycle is launched sometime in 2024-2025.
“Everything that happens until the end of the year is just noise to shake you up before the real fun begins in 2024/2025.”
He speculates that Bitcoin will fall to around $21,000 in September, rise to $34,000 in early October, and retest $30,000 later that month.
Source: Kaleo/X
He bases his prediction partly because of how Bitcoin on average performs poorly in September and stronger in October.
“Bad Septembers lead to good Octobers/Novembers.”
Source: Kaleo/X
Bitcoin is trading at $25,912 at the time of writing, down 1% in the last 24 hours.
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source: dailyhodl.com
