Analyst Who Completely Nailed 2022 Crypto Crash Sets New Targets for Bitcoin and Ethereum

The crypto analyst who called this year’s crypto crash is forecasting imminent new lows for Bitcoin (BTC) and Ethereum (ETH).

The pseudonymous analyst known as Capo tells his 618,400 Twitter followers that Bitcoin has lost key support and predicts that the price may drop significantly.

Capo’s prediction comes as Bitcoin’s price began to plummet in an apparent reaction to the developments around the fallout from the collapse of Sam Bankman-Fried’s giant crypto exchange FTX.

“Key support has been broken and yet you see people bullish. $14,000 is like a magnet.”

Source: Capo/Twitter

He later modified his Bitcoin price estimate by putting it as low as $13,000, arguing that investors have given up trying to make up for lost gains.

“Potential targets for a local bottom after capitulation event: Bitcoin $13,000-$14,000.”

Capo also says,

“Indicators show that the capitulation event is already happening. Expecting last 15% drop on BTC and 30%-40% on altcoins. Then the local bottom is in. Probably this week.”

He warns of a “last nuke incoming.”

At time of writing, Bitcoin is trading hands at $16,303.

Setting his sights on Ethereum, Capo predicts a decline to the $700 to $750 range for the smart contract platform. At time of writing, ETH is trading hands at $1,130.

Capo also forecasts new lows for Cardano (ADA) between $0.18-$0.23, for Litecoin (LTC) between $29-$32, and for Polkadot (DOT) around $3.40-$3.60.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf BitcoinLinux Mix

Check Latest News Headlines

&nbsp

Get Alerts 728x90 83
Disclaimer: Opinions expressed at BitcoinLinux are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. BitcoinLinux does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is BitcoinLinux an investment advisor. Please note that BitcoinLinux participates in affiliate marketing.

The post Analyst Who Completely Nailed 2022 Crypto Crash Sets New Targets for Bitcoin and Ethereum appeared first on BitcoinLinux.