Happened this year bitcoin Capo, who correctly predicted the collapse, warned of a possible altcoin collapse. Here’s the scary guess.
Capo said the altcoin market looks even worse, even though the overall trend looks bad. stated.
“The whole market is in pretty bad shape. However, the altcoin market is in much worse shape. They may lose 50-55% of their current value if the trend does not change. Projects without a foundation may lose 60-90% of value. Prefer safe harbors.”
The entire market looks bad… Thing is that some altcoins look even worse.
NEWS CONTINUES BELOWIf altcoins should dump 50-55% on average from here, pure shitcoins could easily dump 60-90%.
Stay safe.
NEWS CONTINUES BELOW— il Capo Of Crypto (@CryptoCapo_) December 29, 2022
As we have reported as Koinfinans.com, Capo offers both Bitcoin and Ethereum had shared the new lows of the bear market for The analyst expects BTC to drop to $12,000, while he expects ETH to decline to the $600-$650 range.
“There is one thing you must remember. The trend is still down. Indicators point to a complete capitulation. We may see the bad news soon.”
Capo has previously said that Bitcoin bulls may have sparked a rally from the current bear market low of $15,700, but that bounce was significantly smaller than those seen during Bitcoin’s upward rally in June.
“Every leap is smaller. Lower lows and lower highs. Support becomes resistance. $12,000 works like a magnet.”
According to the analyst, many Bitcoin investors have already made losses. Therefore, they should not be prepared for future collapses.
“Just read the comments here and you will get a second confirmation (the first is analysis and indicators) that most people are stuck at $17,000 or above and cannot afford another drop. As I said before, most people are not prepared for what is coming and this shows it.”