Crypto Analyst: Binance Coin (BNB) to Face Similar Fate in 2022 - COINTURK NEWS
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Crypto Analyst: Binance Coin (BNB) to Face Similar Fate in 2022

5:42 pm (48 days ago)
August 4, 2023

CryptoCapo, who made bold predictions in the second half of 2022 that scared many investors, proved to be right. The crypto prophet, who turned his forecasts into reality last year, has now become a subject of ridicule. This is not surprising, as PlanB also experienced a similar fate at the beginning of 2022.

Expert Opinion on Binance Coin (BNB)

CryptoCapo, who predicted a major crash before November 2022, accumulated short positions in most altcoins. Although he suffered losses earlier this year, the crypto analyst, who claimed to be confident in the decline, strengthened his positions. Now, he states that he is already in profit in many altcoins and expects to make even more gains. If he is proven right, this situation will lead to a major recovery in cryptocurrencies.

In his latest market assessment, Capo focused on Binance Coin (BNB).

“The corrective pattern has touched the support multiple times, same as the HTF support (dark zone). They are trying to push the price up with fake stablecoins, but they know they cannot do it for much longer and that it will eventually burst. I have added more to my short positions. My average entry level is $301.”

Capo has made significant profits in his ambitious short position at the current price.

Will Binance Sink?

Although it seems like a far-fetched claim and a difficult possibility when looking at the exchange’s reserves, Capo argues that BNB will experience a fate similar to FTT. The recent news from the US Department of Justice has further motivated him.

“This reminded me of when Binance started selling FTT. They knew it could lead to bankruptcy and warned that they would do it slowly to avoid that. Then you know what happened with FTX and FTT. Binance really didn’t care about it. Nobody cares about the US Department of Justice, they just warned and will do their job.”

According to Capo, the rise in 2023 was supported by BUSD and TUSD. He believes that this will lead to a bigger crash and that the US has bad plans for Binance.

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