Crypto Trader Who Predicted Crash Warns of New Lows
This crypto trader predicted the crash quite accurately and is now warning of new lows!
He accurately predicted that Bitcoin would collapse to less than $23,000 months ago. Now he is warning of potential new lows. This can happen if the price of Bitcoin (BTC) is allowed to fall further as a key support level crumbles. Then panic will break out among the people who have the currency. Their first reaction will then be to dump the coins. Which has a negative effect on the price.
Crypto Trader Predicts Crash
Pseudonymous trader Crypto Capo tells his 375,600 Twitter followers that Bitcoin could fall below $20,000 and cause massive panic. It is unknown who is behind the account. But he does have a lot of knowledge, because many predictions have come true.
“If BTC breaks the $20,000 level, the panic could be huge. Many people have a stop loss below this level. Many others think it can’t break the 2017 record high because it hasn’t happened before. But don’t be blind to that. It could easily reach $16,000 – $18,000 if $20,000 breaks.”
Bitcoin takes everything with it
Bitcoin is trading at around $21,000 at the time of writing. According to Capo, Bitcoin has not yet bottomed out. In his opinion, the $20,000 level will not hold for long.
Three months ago, when Bitcoin traded at over $40,000, Capo predicted that once the flagship crypto asset fell below $30,000, it would hit a target of between $21,000 and $23,000. Whether he is right again, the future will tell.
