A crypto strategist and trader who has long forecast a major Bitcoin drop below $30,000 has revealed his prediction. Bitcoin's free decl...
A crypto strategist and trader who has long forecast a major Bitcoin drop below $30,000 has revealed his prediction.
Bitcoin's free decline isn't ended yet, according to Capo, a pseudonymous crypto expert with 289,400 Twitter followers.
He blames the recent crash on massive whale BTC transfers to crypto exchanges, and warns that a considerable amount of Ethereum has also been sent to the crypto market FTX.
Capo predicts Bitcoin will fall between $21,000 and $23,000 as its low point.
The analyst reminds traders that Bitcoin dropped off a cliff late last year after losing the $6,000 barrier, and that he expects BTC to follow suit.
"If you remember what occurred when it broke the $6,000 support in 2018, you know what happened."
Bitcoin is currently trading at $27,172, down 13% in the last 24 hours, marking the first time it has traded below $30,000 since July 2021.
Capo concludes his presentation by mentioning STEPN (GMT), a move-to-earn protocol, as one cryptocurrency he's considering buying, but only if its price continues to fall.
"GMT is returning... That is the first objective. "I wouldn't buy anything there."
After launching in March, STEPN, which provides users with non-fungible token (NFT) sneakers and rewards them for performing real-life steps, soared by over 3,500 percent, increasing from $0.11 to $3.97 in late April.
GMT has been steadily declining since then, with a market value of $0.94 at the time of writing, down 38 percent.
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