Bitcoin

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 <p>A widely followed cryptocurrency analyst and trader is expressing bearish sentiment on Bitcoin (BTC) following a market correction that coincided with Binance and its former CEO Changpeng Zhao pleading guilty to US federal charges.</p>
 <p>The analyst pseudonymously known as Capo tells his 764,900 followers on the X social media platform that the “beginning of the end” is here.</p>
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 <p>According to Capo, a looming “massive capitulation event” will precede the end of the crypto bear market.</p>
 <p>In reply to a follower who asks whether Bitcoin is heading to $12,000, the pseudonymous analyst says that the prospect is “still likely” and that a crash to a price last witnessed in October of 2020 would mark the bottom.</p>
 <p>Bitcoin is trading at $37,369 at time of writing, up from its one-week low of $35,632.</p>
 <p>Turning to altcoins, Capo says that they could correct more drastically than Bitcoin if BTC falls to his price target of $12,000. According to Capo, some altcoins are already showing signs of reaching a market top.</p>
 <p>“<i>Sentiment right now is extremely bullish…</i></p>
 <p><i>This sentiment and the price action don’t correspond to the current macro state (forming a divergence) and most charts look overextended and with declining volume. They are prolonging this run as much as possible, but the longer the artificial run…”</i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/beginning-of-the-end-crypto-bear-issues-urgent-bitcoin-warning-says-btc-crash-to-12-000-still-on-the-cards-tbt71318.html">https://thebittimes.com/beginning-of-the-end-crypto-bear-issues-urgent-bitcoin-warning-says-btc-crash-to-12-000-still-on-the-cards-tbt71318.html</a></p>

‘Beginning of the End’ – Crypto Bear Issues Urgent Bitcoin Warning, Says BTC Crash to $12,000 Still on the Cards

TheBitTimes

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