A-BigMove Is Coming For Bitcoin

A Big Move Is Coming For Bitcoin

A-BigMove Is Coming For Bitcoin
A-BigMove Is Coming For Bitcoin
1665564202 12 Oct / 08:43

A prominent trader who accurately predicted Bitcoin‘s (BTC) fall of over 50% in March is now warning that new lows are ahead. The Twitter monger who goes by the name ‘Capo‘ told his followers that once the cryptocurrency‘s brief surge is over, a major capitulation could be in the offing.

Capo expects an epic crash!

When this rally ends, make sure you protect your capital because the crash could be epic. The large bearish “hammer” formation is pending.

The capitalization of the entire crypto market is up modestly by about 4% to about $975 billion at the time of writing from the two-month low of about $940 billion hit last week. Regarding Bitcoin, the analyst claims two scenarios could play out – both of which would see Bitcoin fall by nearly 30% from current levels. At the time of writing, the asset is trading for around $19,050.

Capo argues that Bitcoin is completing a bearish head and shoulders pattern that began in June when the leading cryptocurrency briefly broke below $18,000 for the first time in 2022.

More and more calls for a final drop

Capo is not the only one predicting a decline. In a new YouTube video, Tone Weiss also shared that Bitcoin could make a painful decline soon.

I still think a capitulation in the next week or so is possible.

Based on his chart, the analyst expects a Bitcoin correction to the $15,000 price zone. Another crypto analyst, going by the moniker ‘Pentoshi‘ on Twitter, predicted the end of the cryptocurrency bull market last year. He envisions a reversal in Bitcoin’s trend after nearly a year of underperformance.

Pentoshi said in a tweet that macro circumstances had changed dramatically since the flagship cryptocurrency reached its all-time high in November 2021. According to the trader, the Federal Reserve’s benchmark interest rate, or the expected endpoint for raising interest rates, has fluctuated widely over the past year, indicating a possible shift in the macro environment.

With interest rates approaching the Fed’s endpoint, Pentoshi believes Bitcoin faces a short-term relief rally. After the upswing, the trader expects a final capitulation phase, which will create the conditions for Bitcoin to move into a prolonged sideways trend.

Early Bonus Program

Starting on 02 April 2023, and goes for the next 90 Days.

Every day remaining equals 10 CryptoTeka Tokens multiplication.

33 Days Remaining.
330 bonus CryptoTeka Tokens.

CryptoTeka Connect

Crypto Deals
Register on Binance Register on Coinbase Register on KuCoin Register on Huobi Global Register on Bitfinex Register on Gate.io Register on CoinList
Crypto Movers

Get Notifications on the Top 1000 Cryprocurrencies every 10 minutes.

Crypto Subscribers

Get on our contact list, and we'll keep you up to speed.

The latest Crypto news and expert insight sent to your inbox for free.

Subscribe for push notifications.

Free Crypto push notifications to your computer or phone.

Subscribe for Blockchain projectsSubscribe now

CryptoTeka contain links to third-party websites, resources, and advertisers. CryptoTeka does not control, sponsor, recommend or otherwise accept responsibility for any third-party content because we are not responsible for the availability of these outside resources or their contents or privacy practices. It will help if you direct any concerns regarding any third-party content to such a third party. We don't accept responsibility for the content of external websites linked to through the Site or the Services. Third-party content is accessed at the user's own risk. CryptoTeka distributes content from third-party publishers as indicated on the site from time to time mainly in Airdrops, News / Media, Whale Alerts, and Rumors. In these circumstances, CryptoTeka only provides limited stylistic input to the content. CryptoTeka does not verify and takes no responsibility for the accuracy of the content provided by any such third-party publishers.
Powered by
Coingecko Marketstack Metals-API World Bank