Crypto Capo, a cryptocurrency analyst, expects Bitcoin (BTC) price to drop below $30,000. He also warns investors that we are currently experiencing a bull trap. Here are the details…
Bitcoin comment from Crypto Capo: Bull trap! As
Cryptokoin.com, some of his predictions about crypto money projects turned out to be correct, Crypto Capo tells his followers on Twitter that he continues to expect great price drops for altcoins and BTC in the short term and uses the following expressions:
I’m still waiting for the same thing: 40 percent and 60 percent drop in Altcoins, 25 percent and 30 percent drop in Bitcoin (BTC). After the fall, recovery will be seen for 1-3 months.
According to Capo, S&P 500 (SPX) is the latest new when it hit highs, the biggest cryptocurrency was seeing lower lows. Next, we saw more bearish momentum for the cryptocurrency following an SPX reversal. Capo states that SPX is currently at a key resistance level, which could cause a reversal once again. The analyst says, “We see a trend reversal in SPX and a continuation of a bearish trend again in BTC when SPX makes a new high while BTC is making lower highs.” Now he points out that SPX is in resistance.
Capo sold all of its altcoins
Bitcoin (BTC), the largest cryptocurrency by market cap, at the time of writing It is changing hands at $31,810, up 3.7 percent. In the last seven days, it seems to have increased by 9 percent. Meanwhile, Capo later revealed that he sold his entire portfolio of altcoins other than stablecoins before the market crash that saw many cryptocurrencies lose an astonishing 70-99% of their value earlier this month:
BTC’ During the bull run, where the coin fell from $10,000 to $69,000, I was totally into altcoins. Then, when BTC averaged $41,500, I sold them all and avoided the 70-99 percent drop seen in the past few weeks. Now I’m still holding my stablecoins, waiting to re-enter the market.
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