Crypto Analyst Issues Bitcoin, Ethereum Warning After BTC Explodes Over $20K: 'There's A Problem For Bulls'

Zinger Key Points
  • At the time of writing, Bitcoin was trading at $20,891, up by 23% in the last seven days. 
  • In November, Capo predicted that Bitcoin would head to new bear market lows. 

The pseudonymous crypto analyst Capo says that the recent rallies in the cryptocurrency market mean nothing, and new lows are still likely. 

Bitcoin BTC/USD has rallied 21% in the last seven days, and Ethereum ETH/USD has rallied 23%. But Capo says the market’s bounce hasn’t invalidated his bearish outlook. 

He believes Bitcoin still needs to successfully break its resistance around the $21,000 to $22,000 area.

At the time of writing, Bitcoin was trading at $20,891, up by 23% in the last seven days. 

According to the crypto analyst, similar resistance is visible in the case of Ethereum. Therefore, he doubled down on bearish price targets, anticipating a drop to $600 for ETH.

At the time of writing, Ethereum was trading at $1,547, up by 22% in the last seven days.  

Earlier in November, Capo predicted that Bitcoin would head to new bear market lows

Read Next: The Wolf Of Wall Street Says He Was Wrong About Bitcoin: 'I Really Hated Crypto'

Posted In: CryptocurrencyNewsTop StoriesMarketsanalystBitcoinCapoCryptoEthereumprediction
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