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Doomsday-Like Bitcoin Scenario From Analyst Who Knows the Recent Collapse


The senior cryptographic money examiner, known for precisely anticipating the new breakdown in Bitcoin (BTC) and the general business sectors, imparted his insight that financial backers ought to be extremely cautious prior to beginning a situation in the ongoing position.

“Stay Away from the Market”

The senior cryptocurrency analyst, known by the nickname Capo, warned his 661,000 followers on Twitter that it was too early for investors to be bullish on the cryptocurrency markets and that there could be a new drop in prices. In addition, Capo made comments on behalf of all investors to stay away from the markets. The popular analyst included the following statements on the subject in his statements:

What I see… The techniques look bad (prices are below the June low, indicators are declining, funding is being reset…) -the same bull traps as always, but even weaker, and people who fall in love with them. There are also comments around like ‘You’re going to miss the train’. No, honey? I think new ones will be added to the declines experienced.

Warning of a Deep Decline in Bitcoin

After the general market comment, the expert name Capo put forward a possible scenario in which Bitcoin, the leading cryptocurrency, Decayed somewhere between $ 14,000 and $ 11,000 before finding support. The senior analyst said the following about the deep decline he predicted in Bitcoin:

“A painting is worth a thousand words. My main target for Bitcoin is the 14.000 dollar levels … but it is likely that there will be a capitulation wick to the 13.500 dollar or 12.500 dollar levels.

Capo, who discussed Ethereum (ETH), the leading smart contract platform after Bitcoin, claimed that the crypto currency giant could fall to triple-digit price levels before the end of the month. He also suggested that the price of the smart contract platform predicts a December range of 700 to 750 dollars, or a decrease of up to 40% from current levels.

At the time of writing, the leading smart contract platform Ethereum is trading at about $ 1,200, while Bitcoin is trading at $16,553.

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