New Warning For Traders As BTC Trades Around $21,000
Renowned analyst @CryptoCapo_, who correctly predicted the current market crash, is now warning investors that Bitcoin (BTC) is likely to fall even further.
The person known in the industry by the moniker Capo told his more than 400,000 Twitter followers that he sees no signs that BTC has reached a cycle bottom around the $20,000 level.
Capo warned in March, that Bitcoin was likely to drop 50% from its $44,000 price point.
The analyst added that while he is expecting a drop in BTC, he expects it to bottom soon.
At the time of writing, Bitcoin is trading at $21,447.
Capo provided one more chart showing the path to a drop below $16,000 of BTC.
When it comes to the broader altcoin market, the analyst shares a chart of the decentralized exchange’s governing token SushiSwap (SUSHI), to show his view on altcoins. He predicts altcoins will eventually rally but they need another drop to complete their bearish cycle.
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