Known for correctly predicting the crypto money market crash in 2022, the analyst shared his new comments. Crypto Capo predicts a new “flash crash” in the crypto market. The main cryptocurrency that the analyst expects to drop is Bitcoin (BTC). But it predicts a “pump”, that is, a price increase in altcoins for a while. Here are the details…
Crypto Capo evaluated the possibilities in Bitcoin price
The pseudonymous crypto trader known as Capo shared his new comments with his 565,900 Twitter followers. He showed his new plans for the biggest cryptocurrency, BTC. Going into detail with his scheme for BTC, Capo is consolidating around $21,500 of the largest cryptocurrency. However, it is worth noting that currently, BTC has failed to surpass $21,000. As we reported as Kriptokoin.com, the coin, which maintained the levels above $ 21,500 the other day, did not exceed $ 21,000 and fell below $ 21,500.
According to the analyst, if BTC rises above $21,500, it will consolidate around $23,000 before reaching the $24,000-25,000 levels. However, if BTC breaks below $21,500, Capo sees it as bearish confirmation. According to the analyst, if the bear hypothesis is confirmed, Capo predicts the largest crypto by market cap to drop to $13,725 by the end of the year. Such a collapse would mark a 33 percent drop from the current price of BTC.
Capo sees bullish for shitcoins
As for Bitcoin’s slight rise over the past day, Capo does not expect the biggest cryptocurrency to rise much higher than current levels in the short term. Noting that this movement seems to be “pre-supply”, the analyst still expects a distribution between $ 20,500 and $ 21,200. He predicts this will occur especially on charts that point to short time frames. Bitcoin is changing hands at $20,203 at the time of writing, down 2%. The coin, which has a market capitalization of $ 387 billion, has managed to experience an increase of 6.2 percent in the last seven days.
Finally, Capo turns their attention to a niche category of altcoins that is often overlooked. He talks about “shitcoins,” a broad subcategory of crypto. It predicts an existing and follow-up “pump” for this category. The term Shitcoin represents a cryptocurrency with little or no value. Finally, it is worth mentioning Capo’s previous predictions. Capo usually predicts price drops correctly. In the past months, the analyst said that BTC could return to a 22-month low of $ 16,000. Capo predicted a drop to $50,000 in BTC last year. Earlier, he correctly predicted the $3,500 level.
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