Analysis

Trader Who Accurately Predicted 2022 Crypto Crash Says End of Market Meltdown in Sight, Details Bitcoin Price Target

A crypto dealer recognized for precisely predicting the earlier market crash earlier this 12 months thinks the present digital asset worth downtick is “removed from over.”

The pseudonymous analyst referred to as Capo warns his 604,900 Twitter followers that the following leg down for crypto is “incoming.”

Capo predicts that Bitcoin (BTC) might drop all the way in which to an area backside of $14,000 earlier than rebounding.

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Supply: CryptoCapo_/Twitter

BTC is buying and selling at $18,165 at time of writing. The highest-ranked crypto asset by market cap is down almost 12% previously 24 hours.

Capo additionally predicts that altcoins will drop one other 30-40%.

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Supply: CryptoCapo_/Twitter

Ethereum (ETH) is buying and selling at $1,298 at time of writing. The second-ranked crypto asset by market cap is down almost 15% previously 24 hours.

Digital belongings dipped throughout the board after Tuesday’s beautiful collapse of embattled trade FTX’s native FTX Token (FTT), down almost 75% previously 24 hours.

Binance CEO Changpeng Zhao introduced on Tuesday morning that his trade intends to accumulate FTX pending a full due diligence evaluation of the enterprise.

FTT’s worth crash occurred after considerations surfaced that Alameda Analysis, FTX’s buying and selling arm, was too reliant on the token as collateral for loans.

The general crypto market cap has dropped by 12.5% previously 24 hours.

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