Bitcoin Bitcoin/USD It closed at around $20,000 on Saturday before dropping 1.55% to $19,708 on Sunday. BTC is down 58.9% from his year-to-date high of $48,234 on March 28.
Macroeconomic warnings from Goldman Sachs and the Fed’s approach to rate hikes have played a key role in determining Bitcoin’s price performance.
What happened: pseudonymous crypto analyst Capo predicted that the entire cryptocurrency market would fall, and accurately referenced the Bitcoin crash this year.
Inevitably sold out. This seems to be the local bottom. pic.twitter.com/8mIMLtS5ae
— il Capo Of Crypto (@CryptoCapo_) September 16, 2022
He said BTC was able to maintain its local bottom as sales volumes fell.
It looks good. pic.twitter.com/8Q8mkzLM7I
— il Capo Of Crypto (@CryptoCapo_) September 17, 2022
According to him, short-term forecasts for an impending Bitcoin rally look good, with a sharp correction to follow after the cryptocurrency meets resistance at $23,000.
In early August, Capo predicted that Bitcoin would soon drop to new lows.