Should You Buy Aptos? Crypto Traders Predicts Future Of Aptos Coin

A number of top crypto traders, including Cold Blooded Shiller, have tweeted bearish predictions for Aptos’ price despite its recent rally to more than $10.

Predicting Aptos Price

APT tokens of Layer-1 blockchain, which sparked controversy, were listed on all major crypto exchanges on October 19, following a private sale to venture capitalists.

In the days following Aptos’ day one pump to $17 – $30 depending on the exchange – the Binance APT/USDT pair even reached as high as $100 – the price dropped dramatically to $6.80, leading some traders to speculate that retail investors had been dumped on by venture capitalists.

In a tweet, crypto trader with 172,000 followers, @ColdBloodShill predicted that short sales of APT would result in a short squeeze and a blowoff top for its price before it died.

Read More: Nike and BAYC Have Highest NFT Royalties Payout According To Galaxy Digital

“The phases of an $APT rally. People begin shorting because “lol it’s a scam and it’s going to 0”.  Squeeze. More shorts open, traders try again. Squeeze. Frustration grows for shorts, they try yet again. We have a blow off top. Shorts finally flip long. It dies,” Cold Blooded Shiller said.

@SalsaTekila, another crypto trader with 168,000 followers predicted an Aptos short squeeze earlier today at around the $9.30

When he posted data on open interest from Coinalyze, he noticed the Aptos price had risen 33% while funding rates were negative – that is, shorts were paying longs.

“Open interest on $APT is up 160M$ in the past day. Meanwhile price increased more than 33% while funding rates are maximum negative. People are paying 0.75% every 8 hours on bybit to short the perps!. Shorts are sweating balls as the probability of a short squeeze increases,” SalsaTekila said. 

“I have no position in Aptos. I’ve seen people go bankrupt shorting altcoin rallies through 2018. Although this thing will likely tend towards 0 long term, I don’t have edge in short term direction. Keep this date in your calendar for next year tho,” the trader added.

At the time of writing Aptos is valued for $9.42 according to CoinMarketCap.

Alternative Coins

Unlike the Aptos private sale, these new token presales are open to the public, including Dash 2 Trade, which has raised over $1.6 million so far, The most anticipated NFT trading card game of 2022: Calvaria,  and IMPT  which is an eco friendly crypto presale with real world utility.

Read More: 3Commas Issues Security Alert After Finding Certain FTX API keys Used to Do Unauthorized Trades 

It is usually less risky and more rewarding to invest in a new cryptocurrency at the presale stage, rather than buying into a rally of an asset with an FDV close to $10 billion – Aptos is already ranked among the top 50 crypto assets on CoinMarketCap.

For more info regarding Crypto Alpha and NFTs Alpha.  Always follow us on Twitter and Instagram.

Jamilatul Mahmudah

Related post