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Bitcoin Price Crash Not Over? Analyst Predicts Another 30% Crash As Longs Pile Up Again
Capo, a prominent crypto analyst, believes the Bitcoin price crash isn't over despite a recent rebound. He predicts a potential 30% further drop, suggesting the market hasn't fully corrected and is still far from a healthy range. This forecast follows a significant market crash last week, triggered by economic concerns, causing substantial liquidations. Capo views this crash as a potential precursor to a larger, more severe market event. He notes that altcoins have experienced capitulation, but that several major coins still have further to fall. A brief weekend consolidation is expected to be followed by more downside this week. Bitcoin's price saw a bounce over the weekend, amid new optimism, climbing to $116,000. The King Fisher highlighted further upside potential reaching $118,000. Other analysts, like Titan of Crypto, maintain the bull market is still ongoing, basing their argument on the price's behavior relative to moving averages. Jelle points out Bitcoin is testing $115,000 resistance, a successful reclaim of which could lead to new highs. The Bitcoin price is trading around $115,100 currently, showing some recovery.
