Famous crypto trader and analyst, pseudonymously named, Capo, recently told his almost 700k followers of the future prospects of Bitcoin. Capo stated that while the market as a whole does not look good, altcoins particularly are in a bad situation and the things are even worse for so called ‘shitcoins’.
Capo stated that the altcoins may lose value by 50%-55%, and the shitcoins may lose value by as much as 60%-90%. According to Capo, the Bitcoin has not yet hit the bottom and could hit the low of $12k, whereas, the Ethereum may crash to $600-$650.
Stay safe, things could get very ugly.
— il Capo Of Crypto (@CryptoCapo_) December 13, 2022
Capo wrote that while the Bitcoin has seen a rally upwards and above $17k the bears are still in control as the coin sees lower highs and lower lows. He stated:
“Every bounce is smaller. Lower lows and lower highs. Support becomes resistance. $12,000 is like a magnet.”
The entire market looks bad… Thing is that some altcoins look even worse.
If altcoins should dump 50-55% on average from here, pure shitcoins could easily dump 60-90%.
— il Capo Of Crypto (@CryptoCapo_) December 29, 2022
Capo further noted that most crypto investors are ill-prepared for what is coming in the future. Capo said, mentioning the comments, that the Bitcoin holders are not prepared for the future as they are still trapped above $17k.
Moreover, the Bitcoin is down 0.6% in the day and 2.1% over the week, as the coin currently trades at $16.5k. It has been predicted by many different crypto analysts that the ongoing crypto winter may last until the middle of 2023. Particularly, the real change in the momentum may only be seen in the Q3 of the year 2023.
Registrations on Xumm Wallet Grows by 55% as the Evernode Airdrop for XRP Holders Nears
Famous crypto analyst Crypto Eri States Ripple’s IPO May Face Delays
Chatter about the SEC settling with Ripple intensified following the agency’s announcement of an upcoming meeting
Report Shows XRP is one of Banks’ Most Favorite Cryptocurrencies as the Coin Fetches Millions in Investment
Is Ripple Removing David Schwartz, Firm’s Chief Technology Officer? A Recent Tweet Sparks a Fuss
Recent Press Release
The announcement of an upcoming SEC meeting sparks chatter about the possible settlement between the state regulator and Ripple. In...
SloMining: The Best Cloud Mining Site for Passive Income in 2023
The global surge in cryptocurrencies has paved the way for innovative avenues of income, and one such avenue that has...
CGMD Miner’s Low-Cost Coin Mining : Spend Less, Earn More!
As more players enter the cryptocurrency space, mining becomes more complex and requires more computing power. As a result, many...
Will Arbitrum Reach $1? ARB Struggles, SPCT Offers Better Prospects
As the crypto market recovers from Bitcoin’s (BTC) recent crash, Arbitrum (ARB) is enhancing its network capabilities to improve its...
Cardano (ADA) Lags, Analysts Predict VC Spectra (SPCT) Will Outpace it
Cardano’s (ADA) price has suffered despite the launch of Cardano’s Project Catalyst Testnet on August 25. Even when the news...