Knowing that the leading cryptocurrency Bitcoin has fallen multiple times, the analyst made an updated post. After the recent price movements, the legendary analyst Capo updated his expectations.
The analyst drew attention to these levels in Bitcoin and other altcoins
The cryptocurrency market has experienced serious losses in the last 2 weeks. The analyst says that BTC has fallen below the critical support zone. He also states that the cryptocurrency market trends are again extremely bearish. However, the bulls managed to keep prices at these levels. However, the extreme bearish trend is likely to push the price further down. The declines in Bitcoin affected altcoins in a similar way.
The price of leading altcoin Ethereum is heading towards $1,000. ADA, the altcoin of the Cardano ecosystem, is at risk of falling below $ 0.3. The leading meme coin Dogecoin is again near the critical support zone at $0.07. Finally, Polygon’s altcoin MATIC is very close to the key zone at $0.75. According to analyst Capo, the market situation points to cryptocurrencies heading towards the bottom of the current capitulation stage.
Capo updated its price expectations
Cryptocurrency analyst Capo closely follows the price movements of BTC and altcoins. He shared the bottom points of Bitcoin and other altcoins. According to the analyst, BTC price could bottom between $12,000 and $14,000. According to Capo, BTC price has given significant bearish signals. Meanwhile, ETH is close to a 3-digit drop and it is likely to form new lows around $600 to $650. The most interesting prediction is for FTT, the altcoin of the bankrupt exchange FTX, which he thinks will trade around $0.000001. Capo made the following statements in his post:
Potential targets for local bottom after capitulation event (update):
BTC $12,000 – $14,000
ETH $600 – $650
ADA $0.16 – $0.20
LTC $29 – $32
DOT $2.8 – $3.1
FTT $0.000001
Capo notes that at the moment, the indicators are extremely negative. He also says that he expects to dominate in a long time. According to the legendary analyst, prices are likely to experience a notable recovery as they reach their own lows.
Cryptocurrency analyst has guessed correctly many times
As we have reported as Kriptokoin.com; In addition, on August 30, the legendary analyst stated that he expects Bitcoin to reach the level of 20 thousand dollars. He said that BTC will be traded at these levels for a certain period of time, and then it may decline to the $ 16 thousand range. It is worth remembering that during that period, Capo said that he was sure that the BTC price would break $19,000.
The legendary analyst said in his Twitter post at that time:
There are those who are waiting for the level of 23 thousand dollars. However, more than people waiting for this are waiting for the $ 19 thousand level. Financing reflects every move. Besides, there is a lot of liquidity when we look above the $21,000 level.
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