The widely-stalled crypto analyst who nailed the 2022 Bitcoin (BTC) crash is a warning of an imminent BTC meltdown.
In a post on his telegram channel, pseudonymous trader Crypto Capo tells 129,000 subscribers that BTC and Altcoins will be able to see a significant drop in prices in the coming weeks as BTC and Altcoins are at high risk for Black Swan events.
According to traders, both Altcoins and BTC were able to see an incredible price drop where they cut in more than half. However, according to Capo, investors appear to be energizing the flagship crypto assets during DIPS despite signs of an imminent crash.
“Despite all the bearish signals, people continue to buy dips. The risk of a Black Swan event is still high. If that happens, we found that BTC will drop from $60,000 to $70,000 and Altcoins will crash at 50-80%.
Near the end of July, Capo warned investors that the Altcoin season has not yet begun and that a shakeout would be necessary before it could take place.
“If you’re wondering why your alt isn’t actually rising, that’s because Altsesoves hasn’t started yet.
There’s all the time. There’s a time when it’s very bullish. Sometimes the Altcoins pump vigorously for several weeks. The time will come. But this is not the case. This is when you’re bearish. Future plans. Current actions. ”
Bitcoin has traded at $114,966 at the time of writing, and has dropped in fractions over the past 24 hours.
