An analyst who is famous for his accurate predictions shared his new predictions for the leading crypto. The crypto analyst, who correctly predicted that Bitcoin (BTC) would drop below $23,000 monthly, warned of potential new lows.
“If Bitcoin breaks this level, it opens the bottom doors”
A popular crypto analyst, known by the alias Crypto Capo, thinks that if a key support level collapses, the bells will ring for Bitcoin. The analyst warns that if this happens, the BTC price may drop even more.
The popular analyst, known for his successful predictions, commented on the new status of BTC to his 375,600 Twitter followers. The analyst says that it is possible for Bitcoin to drop below $20,000. He also warns his followers that this drop is likely to cause major panic in the market. Crypto Capo makes the following statement:
If BTC breaks the $20,000 level, the panic is likely to be huge. Many people have stop losses below this level. Many feel that 2017 will not be able to break its all-time high. Because it hasn’t happened before. If $20,000 is broken it could easily go to $16,000 – $18,000.
Bitcoin was trading at $20,601 at the time of writing, down 3.55%, according to data from CoinMarketCap. The leading crypto is currently standing over 70% below the $69k ATH level.
“Bitcoin hasn’t bottomed yet, don’t be fooled by fake pumps…”
As you know from Kriptokoin.com , BTC last saw $20.111, a level reached in December 2020. However, according to Capo, the leading crypto has not yet reached the bottom. The altcoin oracle makes the following assessment:
Seeing some bottoms beckons this place. Honestly, this is one of the clearest fake pumps we’ve ever seen. In my opinion, the $20,000 level won’t last long. We have yet to see a proper capitulation and there are no signs of bullishness. I stay out of the market.
Three months ago, Bitcoin was trading above $40,000. Capo predicted that once the leading crypto drops below $30,000, it will hit a target of $21,000 to $23,000. Now we are at the predicted levels. The analyst said:
This is how I see BTC now: $38,000 clean break = $35,000. $35,000 break = $30,000. Below $30,000 should hit the main target of $21,000-23,000.
How did the Altcoin Oracle earn its reputation?
CryptoCapo said that in early 2020, Bitcoin will drop to $3,500. He also claimed that Ripple (XRP) will reach $0.11. Then these levels came in this Bitcoin and XRP. The analyst, who also hit the last Bitcoin prediction, may also deserve the name of Bitcoin oracle!
In addition, the popular analyst managed to meet the target of $ 0.13 in XRP. In addition, Capo accurately predicted some big drops for several other altcoins as well. These predictions caused the analyst to be called the ‘Altcoin Oracle’. For this reason, investors in the market are watching the analyst’s forecasts carefully.
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