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.
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“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.
The phases of an $APT rally.
People begin shorting because “lol it’s a scam and it’s going to 0”
More shorts open, traders try again.
Frustration grows for shorts, they try yet again.
We have a blow off top.
Shorts finally flip long.
— Cold Blooded Shiller (@ColdBloodShill) October 21, 2022
@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.
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:https://t.co/bEZFUfbiKG
— SalsaTekila (@SalsaTekila) October 23, 2022
At the time of writing Aptos is valued for $9.42 according to CoinMarketCap.
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.
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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.
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