This Is The Rock Bottom Target For Bitcoin

There are all kinds of predictions about Bitcoin’s price these days. Check out the latest one about the king coin’s rock bottom below.

It’s been just revealed that the crypto analyst who predicted Bitcoin (BTC) would crash this year is revealing what he thinks will be the bottom price for the king coin.

The pseudonymous crypto trader who is known as Capo has recently said that he expects Bitcoin to plunge further as the crypto asset drops below the key support level.

“BTC – Some of the reasons why I think we should see new lows in the coming days: BTC broke the $30,000 support zone, which was the main pivot of the bull run. This is a zone, not a level. It’s between $29,000-$31,000, taking all the wicks. Now it’s testing that zone as resistance.”

The analyst also made sure to say that Bitcoin could drop to as low as $21,000 before it will go up. At the time of writing, Bitcoin is trading for $29,101, and the king coin is trading in the green.

Capo has a similar forecast for altcoins, which he expects to fall by another 40% to 50% in the next few days.

“The minimum target of the bear flag hasn’t been reached yet ($23,000). You can also see this on altcoins, where some of the main targets haven’t been reached yet.”

He also explained the fact that the prices of crypto assets will bounce back after hitting the lows, but he remains pessimistic about the bear market ending soon.

He recently said that altcoins may not set new highs until after the Bitcoin halving that is set to take place in 2024.

“I expect a good recovery after this last leg down (100-500% bounces depending on the coin), but later this year we could see the continuation of the bear market. Not expecting new ATHs until mid-late 2024 (post next halving).”