An analyst, who came to the fore with various crypto money predictions in the past period, announced his new predictions. Popular analyst Crypto Capo stated that he expects an 80 percent drop for an altcoin in particular. So, in which altcoin does the analyst predict a decline? Here are the details…
Crypto Capo expects collapse in Binance’s altcoin project
Analyst Crypto Capo, who predicted the collapse of Bitcoin (BTC) in May 2022, says that Binance Coin (BNB) is on the verge of collapse. In his post on Twitter, Capo said that the giant crypto exchange’s native token, BNB, will drop by more than 80 percent. The analyst explained that the average entry of people who bought BNB was $265. However, he pointed out that the main target for short positions (short selling) remains at $40-45.
“This is a very low leverage swing trade, not financial advice,” the analyst said. used his statements. According to Capo’s chart, BNB will drop to the $125-135 price level first. It will then decline to the $40-$45 price level towards June. Currently, the value of BNB is around $256.
The analyst also shared Bitcoin comments
Capo also explained what levels Bitcoin will hit after trading sideways in the mid-to-high range of $16,000. The analyst continues to predict that Bitcoin will soon fall by more than 28 percent from its current value to $12,000 this year. The analyst uses the following statements:
16,600, 16,800, 16,600, 16,800, 16,600, 16,800… And when you least expect it… $12,000.
Looking at Capo’s chart shows his belief that Bitcoin will drop to $12,000 before spring. In addition, the analyst predicts that altcoins will fall by 50 to 60 percent in the same period. However, according to his chart, once Bitcoin hits the bottom, it will likely surpass $20,000 by May. The analyst shares his charts by saying “a chart is worth a thousand words”.
He also says that any near-term rally of Bitcoin will act as a bull trap, similar to the price action in 2022. According to the analyst, everyone needs to break the resistance level with a small pump in order to rise again. However, according to Capo, the same bull trap has already occurred throughout 2022. The expert reiterated his negative stance on the situation, saying “people don’t learn”. He also pointed out once again that it is quite likely that we will see the $12,000 level. Currently, Bitcoin is changing hands at $16,802.
Capo’s previous predictions
Meanwhile, cryptocoin.com As we reported, Crypto Capo started to attract more attention after knowing about this year’s Bitcoin collapse. He previously predicted that in 2021, BTC would drop to $50,000. At that time, the largest cryptocurrency by market cap was trading over $60,000. He also correctly predicted the drop in BTC to $3,500 three years ago. Because of these predictions, Capo has gained a large base of followers.
