The post Bitcoin(BTC) Price Plunging To $12k Seems Imminent! Here’s Why appeared first on Coinpedia Fintech News
A week prior to the FTX disaster, the price of bitcoin was on the rise and the top cryptocurrency asset was trading above the $20K mark. Bitcoin (BTC) was being traded for $20,485 per coin on November 1. Since Nov. 9, 2022, the price of Bitcoin has been roughly $4K lower and is currently trading at $16,600.
The crypto expert who correctly predicted Bitcoin’s collapse this year believes the market’s dominant cryptocurrency is most certainly headed for fresh bear market lows. Rallies in the cryptocurrency markets, according to expert Capo, are meant for bull traps.
A chart is worth a thousand words.
pic.twitter.com/Y9hGmPuzC7
— il Capo Of Crypto (@CryptoCapo_) November 16, 2022
Looking at Bitcoin, Capo predicts a short-term decline to lower levels. His BTC price objective is between $12,000 and $14,000. Additionally, he forecasts an average 40%–50% decline for
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