An analyst and trader pseudonymously known as Capo is predicting a bear market within the Bitcoin (BTC) space. He reports that a massive capitulation event could be incoming, ultimately leading to a drastic crash to $12,000. This would match up with market prices from October of 2020. Altcoins could crash even further than Bitcoin, and Capo notes that current sentiment is extremely bullish. Some charts may be overextended with declining volume, showing signs of a market top, although an artificial run is being as prolonged as possible. Given the current macro state and Capo's prediction, Bitcoin investors should be wary and observe the market carefully.



Other News from Today