Wednesday, December 25, 2024

Crypto Analyst Who Caused Bitcoin Crash Issues Warning This Year, Says New BTC Crash Is Imminent

Date:

A closely followed cryptocurrency strategist who accurately predicted a Bitcoin correction below $30,000 says it is almost time for BTC to crash to new lows in 2022.

Analyst pseudonym Capo tells his 425,900 Twitter followers that a higher crypto asset by the inability of the market to stay above the key psychological price region of $20,000 indicates that another sell-off is imminent.

“It’s time…that’s exactly what happened. Support coup resistance, another bull trap. Strong rejection and straight to new lows.”

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source: Capo / Twitter

Capo says bitcoin looks poised to drop below its annual low of around $17,600.

“BTC: A more accurate forecast roadmap for potential local bottom formation around $16,000.”

picture
source: Capo / Twitter

Based on Capo’s chart, Bitcoin is expected to briefly correct below $16,000 before launching a sharp rally above $20,000 and reclaiming the price level as support.

Capo also adds that the expected BTC correction could lead to a significant drop in the value of the altcoin markets.

“We expect a 45-50% drop on altcoins from current prices.”

Capo, who was bearish On crypto king since April when it traded close to $50,000, Says He will join the ranks of the BTC bulls as soon as he hits the bottom.

“I have become the nightmare of the bulls, but soon I will be the nightmare of the bears.”

Bitcoin Changes of hands are priced at $19,170 at the time of writing.

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Featured Image: Shutterstock/Swill Klitch/Sensvector

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