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.

Posted In: BitcoinBTCCapoMarketpredictionCryptocurrencyNewsMarkets

Visit Benzinga's Crypto Homepage - 1,000,000+ depend on Benzinga Crypto every month