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 through 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 the time of writing round the $21,000. 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 was trading 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.
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