Cryptocurrency expert predicts another drop in bitcoin

A popular crypto strategist under the nickname CryptoCapo, who has repeatedly predicted significant declines in the bitcoin (BTC) exchange rate, shared his opinion on the current market situation with his audience. He believes that the value of the leading asset will continue to fall.

CryptoCapo is confident that the price rebound after falling to $ 17 708 per coin has been mistakenly recognized as a market recovery. In his opinion, the data from technical analysis indicators show that a deeper drawdown is approaching. The trader also warned against entering the market in such a situation:

«Low values are observed in every indicator. Analysis of charts on different timeframes reveals hidden bearish divergences. The uniqueness of the downward scenario does not provide enough information to name the minimum point to which we expect the fall to occur.»

As a reminder, in March 2022, CryptoCapo warned the community about a 50% decline in the price of BTC, at the time of the forecast, the value of the asset was $ 44,000.

The analyst also said that the next downward cycle would be the final one. The predicted bottom, in his opinion and without any guarantees, is $ 16,000.