Bitcoin price dropped below $27,000 this morning and hit $26,700 on Binance. An analyst, who has predicted a drop below 30,000 in BTC for a long time, mentioned BTC and an altcoin in his new comments. Here are the details…
The analyst drew attention to the similarity between the current Bitcoin price action and 2018
Capo, a cryptocurrency trader and analyst who has long predicted a massive Bitcoin crash below $30,000 tells his 289,400 Twitter followers that Bitcoin’s free fall isn’t over yet. As we reported at Kriptokoin.com , Capo correctly predicted various levels in Bitcoin and altcoins. The analyst cites large whale transfers of BTC to crypto exchanges as the main force triggering the current collapse, and warns that a significant amount of Ethereum is also sent to crypto exchange FTX.
Good morning.
Prices are approaching targets. Today could be the day.
— il Capo Of Crypto (@CryptoCapo_) May 12, 2022
Capo, as for BTC’s low target for Bitcoin between 21,000 and He says he believes it will land somewhere between $23,000. The analyst reminds traders how Bitcoin fell off a cliff in late 2018 after giving up the $6,000 level. Now, he thinks a similar move should happen for BTC to move forward. The analyst’s tweet includes the following statements:
If you remember 2018, you know what happened when it broke the $6,000 support.
Analyst points to popular altcoin STEPN
Capo concludes his discussion by highlighting move-to-earn protocol STEPN (GMT) as an altcoin he is considering buying . The analyst states that he can add STEPN to his cart only if its price continues to drop. Equipping users with non-fungiable token (NFT) sneakers and rewarding them for real-life strides, STEPN has skyrocketed over 3,500 percent initially after its March relaunch, rising from $0.11 to $3.97 at the end of April.
Considering the overall bearish sentiment in the cryptocurrency market, GMT has since been trending downwards and is in the red 38 percent at the time of writing, with a price of $0.94. Meanwhile, BTC is changing hands at $28,039, down 11 percent at the time of writing.
