Bitcoin is predicted to fall to $ 12 000

A cryptocurrency trader known as CryptoCapo shocked the community by suggesting that bitcoin could fall to $ 12,000. The analyst’s statement contrasts with the recent bullish narrative surrounding the flagship asset, which has managed to regain the coveted $ 30,000 mark.

Recently, the trader, who has 765,600 followers on Twitter, decided to leave the social network, citing «a loss of empathy and respect in an increasingly dehumanized digital world.» In his farewell message, CryptoCapo emphasized that his market analysis and personal positioning were often misinterpreted.

CryptoCapo also noted that his bearish bitcoin charts should not be equated with his own short position in the cryptocurrency. Admitting that some of his recent predictions were less accurate, he apologized for the confusion. The trader noted that the extreme volatility of the cryptocurrency market can make crypto forecasting difficult.

Despite the fact that CryptoCapo left Twitter, he remains faithful to his bearish forecast, stating that the industry’s capitulation is still likely, and bitcoin could fall to $ 12,000 and ethereum to $ 500−700. If his analysis proves to be inaccurate, he promised to «adapt to new market circumstances.» In his final tweet, CryptoCapo said he would return to the platform «stronger than ever.»

At the time of writing, the main digital asset of BTC $98,301.60 Bitcoin 0.79% Market capitalization $1.94 trillion VOL. 24 hours $5.9 billion is trading for $ 30,725, up 2.2% from yesterday. The market capitalization of BTC is $ 645.5 billion, and daily trading transactions exceeded $ 24.4 billion. Bitcoin’s market dominance has increased to 50%.