Analyst Capo Warns Not To Buy The Dip Too Early, Predicts Further Fall
According to crypto analyst and trader, known as Capo, Bitcoin (BTC) and Ethereum (ETH) are likely to drop further as the uncertainty in the global markets grows.
According to the analyst traders should not ‘buy the dip’ too early, as he believes that the two leading digital assets could lose as much as half of their current value before climbing up again.
Bitcoin (BTC)
Bitcoin, which is priced at $39,362 at the time of writing, could fall as low as $20,000, Capo estimates.
“Price nuking and supply being added. Be careful with buying too early. I will keep waiting for low 20ks.”
Price nuking and supply being added. Be careful with buying too early. I will keep waiting for low 20ks. pic.twitter.com/8ghKF0WD1i
Looking into Ethereum (ETH), Capo predicts that ETH could sink all the way down to $1,100 levels. At time of writing, the second largest digital asset is trading at $2,825.
The rest of the crypto market is also getting a bearish outlook from the trader. He notes, that charts indicate that altcoin prices will keep on falling.
“Altcoins.
They keep dumping, more than BTC. Based on this chart and every altcoin chart, there’s still a lot of potential drop missing.
