Crypto Strategist Who Predicted May 2022 Bitcoin Crash Says One of Top 5 Altcoins Will Plunge Over 80%
A popular crypto analyst who predicted the Bitcoin (BTC) crash in May 2022 says that Binance Coin (BNB) is on the verge of collapse.
Pseudonymous crypto trader Capo tells his 697,100 Twitter followers that the giant crypto exchange’s native token BNB is likely to plummet by more than 80%.
“Adding the last part to the BNB short, average entry: $265. The main goal remains $40-45. This is a very low leverage swing trade, not financial advice.”
Source: Crypto Capo/Twitter
Looking at Capo’s chart, he predicts that BNB will initially fall to the $125-$135 price level, followed by a dip to the $40-$45 price level by June.
At the time of writing, BNB is changing hands at $258.
Capo also continues to forecast that Bitcoin will soon fall more than 28% from its current value to a low of $12,000 this year after trading sideways in the mid-to-high $16,000 range.
“$16,600, $16,800, $16,600, $16,800, $16,600, $16,800… And when you least expect it… $12,000.”
Looking at Capo’s chart, he predicts Bitcoin to drop to $12,000 and altcoins down 50% to 60% before spring. According to his chart, once Bitcoin bottoms, it is likely to surge above $20,000 by May.
“A diagram says more than a thousand words.”
He also says that any short-term rally in Bitcoin will act as a bull trap, much like the price action of 2022.
“It takes a tiny pump into resistance to get everyone bullish again. The same bull trap happened all through 2022, but people don’t learn. $12,000 is very likely.”
At the time of writing, Bitcoin is changing hands at $16,856.
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