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It is possible to say that scary things are happening in the crypto sector, especially with the leading cryptocurrency Bitcoin (BTC). Although BTC has experienced a 2% drop in the last 24 hours, knowing that this is part of a 10% drop from previous days makes the situation even more frightening.
Terrifying Picture for Altcoins and BNB
While the price of BTC experiences such a sharp drop, the drops in other altcoins have been even more terrifying. Especially Binance Coin (BNB), due to its sharp drop and concerns related to regulations, caused a serious panic.
Famous altcoin analyst Altcoin Sherpa also scared BNB investors with his statement. Altcoin Sherpa implied that BNB is currently in the re-test stage and this paints a very pessimistic picture. The analyst added the phrase “scary things” to the graph he drew.
A leading crypto analyst hinted at the continuation of the drop in the graph he drew. The price of BNB is currently trying to hold at $217 and had dropped to $204. The analyst stated that things look frightening and implied that there could be another drop to $204. If the $200 line is lost, the price could drop back to $170.
In addition to his warning about BNB, the famous crypto analyst also made statements about another popular cryptocurrency. RUNE has recently experienced a rise, and the analyst stated that he expects it to bounce off the .50 to .618 Fib levels, implying that the rise could continue.
Analyst’s Warning About Altcoins
In addition, the analyst shed light on the scary side and opened a parenthesis about a 40% decline. The analyst warned investors in this way.
In his statement on August 23, the analyst mentioned that the next rise will be in altcoins. The famous figure expressed that even the altcoins that have hit rock bottom will recover, reminding everyone that they are all tied to BTC. According to the analyst, BTC seems to be moving sideways at $26,000 and will rise back to $30,000.
