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Last year, he became a crypto prophet with his market predictions that caught everyone’s attention. However, the first quarter of 2023 was not what he expected. Just like PlanB was mocked in early 2022, CryptoCapo faced the opposite situation with his predictions. But as we reached the ninth month of the year, we saw that most of the analyst’s predictions were correct for many altcoins.
The Comment of the Best Crypto Analyst
His accurate predictions in 2022 and the realization of some of his ambitious targets for the second half of 2023 elevate him among the top analysts. Today, Capo shared his latest update about the markets. This influential analysis was the kind that would haunt long-term focused investors’ nightmares.
Capo wrote the following:
“Firstly, I expect BTC to drop to $19,000-$21,000 and ETH to drop to $1,000-$1,100, and altcoins to lose 30-40% of their value by breaking their current key supports. This initial move will be accompanied by very bad news. Then, efforts will be made to refute this news.”
Here, Capo, indicated by the number 4 in parentheses, implies that the bad news will be about Binance. The analyst has previously made serious allegations about BUSD and TUSD multiple times. The worst news expected for Binance is the possibility of the US Department of Justice focusing on crimes that require imprisonment in the SEC and CFTC indictments. Weeks ago, we read leaks about the Ministry of Justice opting for a settlement to avoid triggering a market collapse.
How Low Will Bitcoin Fall?
Remember the year 2022. Capo was talking about a deep dip for BTC at $12,000 back then. Exactly one year has passed, and Capo’s targets remained the same. He made significant gains in altcoins from many short positions. And today, he said the following about his predictions for the future:
“The bad news (about Binance) will be refuted. We will see a rebound that may last a few days with various initiatives. Broken supports will be tested as resistance. Eventually, more evidence supporting this initial bad news will emerge, and Bitcoin will finally reach its main target of $12,000, leading to a capitulation wave where altcoins will drop 70-80%. This will mark the end of the bear market. In connection with this, I will not close my short positions during this potential consolidation because it may not happen or it may happen very quickly. The main targets are clear, and that is the main plan.”
