Crypto Analyst Who Correctly Predicted Bitcoin Would Retreat To $21K Now Has This New Alert

Zinger Key Points
  • Bitcoin has climbed back above $20,000 level on Saturday morning.
  • Crypto analyst Capo predicts the overall cryptocurrency market will see a downfall.

Crypto assets seemed to be stabilized on Saturday morning, as Bitcoin BTC/USD remained above the $20,000 level, although according to a prominent analyst there's trouble ahead.

What Happened: The pseudonymous crypto analyst Capo has been predicting that the overall cryptocurrency market will see a downfall, and with extreme market conditions, Bitcoin BTC/USD is likely to fall further. 

In a recent tweet, he mentioned that he sees no indication that BTC has reached a cycle bottom around the $20,000 level.

However, he said he does foresee lower Bitcoin prices and expects the bottom to be reached soon.

Also Read: This Industry Expert Says Bitcoin Could Rally By Around 732%: Here's How Long That Will Take 

Capo shared a chart hypothesizing a correction to below $16,000 is “still in play.”

Last week he warned about the panic in the crypto market and said, “If Bitcoin breaks $20k level, panic could be massive. However, many people have stop losses below this level.”

In March, he warned that Bitcoin was likely to fall 50% from its $44,000 price tag.

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyNewsMarketsBitcoinBTCCapoMarketprediction
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!