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.
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