Benzinga - The widening fallout from FTX has impacted the cryptocurrency market. Apex crypto Bitcoin (CRYPTO: BTC) was trading below the $17,000 mark on Sunday. At the time of writing, BTC was trading at $16,567.
Pseudonymous crypto analyst Capo predicted this year’s Bitcoin collapse and said it is likely heading to new bear market lows.
Good morning!$BTC to $12,000-14,000 is a matter of time. Altcoins much lower (40-50% drop on average) pic.twitter.com/DEByAUUHQHCapo believes that the current rally in the crypto market is meant to trap bulls, and a Bitcoin drop to lower levels will happen in the near term. In a Twitter post, he shared how BTC has flipped support at $17,600 into resistance.— il Capo Of Crypto (@CryptoCapo_) November 18, 2022
A chart is worth a thousand words.