We have entered a new week in the world of Bitcoin and altcoins. The week did not start well. It’s actually a day full of red color. So there is not much excitement for traders. When this happens, a feeling of pessimism inevitably overwhelms one. And when new predictions come in, pessimism increases. The latest predictions came from Crypto Capo. Let’s look at the details.
Bitcoin prediction from Crypto Capo
As of today, a new week has started in the Bitcoin and altcoin industry. On the other hand, the leading cryptocurrency Bitcoin (BTC) fell to the level of $ 29,000 after a long break. Accordingly, the week had a tough start. Currently, BTC is trading at $29,281. The recent drop in Bitcoin has caused many crypto investors to back down from the industry. After a month of accumulation, BTC’s decline shattered all expectations.
Are the drops in Bitcoin (BTC) a harbinger of a new bear market?
During previous declines, crypto investors followed the predictions of an analyst named Crypto Capo closely. However, despite his past success, Capo’s performance in 2023 has been less than stellar. Cryptocurrency market faced a huge loss in value in 2022, as we mentioned as Kriptokoin.com. Some analysts correctly predicted that the market would decline. Crypto Capo was one of them. The analyst, who correctly predicted the big market crash of 2022, now points to frightening levels in a new forecast.
After the recent market downturn, Capo has resurfaced with a new forecast. He highlights that the leading cryptocurrency Bitcoin (BTC) is facing a major downtrend. On the other hand, he believes that BTC will drop to $12,000.
Capo’s comments
While Capo shares his views, he also gives clear numbers in detail. At this point, Capo said, “In my view, there is significant selling over $30,000 in Bitcoin. Whales sold off a significant amount of BTC, especially at the $31,000 level.” makes a statement. On the other hand, “The first bearish confirmation was the clear break of $29,500. The main bearish confirmation will occur below $25,000. Once we cross the $25,000 mark, the real decline towards $12,000 will begin.” makes a statement.
The question of whether Bitcoin will actually drop to $12,000 in the coming period is not yet known. As the market continues to evolve, investors are bracing themselves for potential turbulence. However, we need to specifically point out that Bitcoin did not stay below $15,000 in the bear market. Because the bulls did not allow this very much.
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