Analyst Who Predicted 2022 Bitcoin Collapse Is Upbeat About the Near Future: Here's Why

 

Analyst Who Predicted 2022 Bitcoin Collapse Is Upbeat About the Near Future: Here's Why

 

Capo anticipated that the value of the leading cryptocurrency asset will fall below $23,000 in March.

At the time of writing, the price of Bitcoin was $19,959, a decrease of 6.85 percent over the previous seven days. 

The price of Bitcoin (CRYPTO: BTC), which has fallen by 70% from its peak, fell below $20,000 on Saturday and again on Sunday.

The Federal Reserve's Jerome Powell issued a warning against anticipating a quick conclusion to the Fed's rate increases, which caused bitcoin to decline. 

The previous time the cryptocurrency fell below $20,000 was in the middle of July, when it hit a low of $18,999.95 on July 13.
 

Last week, anonymous cryptocurrency expert Capo projected that during this current drop, Bitcoin would hit a new low. 

Capo has recently expressed short-term optimism for Bitcoin in a fresh Twitter message, with the possibility of a short squeeze. 

According to him, after rising toward $23,500, BTC will likely fall back toward $16,000 by mid-September.

 

 

Last week he mentioned that Bitcoin is currently in the fifth wave of the primary downward trend and could correct to the upside in a three-wave pattern to the $23,500 level.

 

Capo anticipated that the top cryptocurrency will drop below $23,000 earlier in March.

After that, in June, Bitcoin dropped to a 2022 low of around $18,000.
At the time of writing, the price of Bitcoin was $19,959, a decrease of 6.85 percent over the previous seven days.