Bitcoin Flashing Signs of Weakness, what Next For BTC Price?
For Bitcoin, the year 2022 has not been good. The largest cryptocurrency in the world by market capitalization has lost about 65% of its value since the start of 2022. Despite crypto markets mainly consolidating at the start of the week, Bitcoin surged closer to the $17,000 mark on Saturday. An analyst who correctly predicted Bitcoin‘s collapse this year has warned BTC holders that Bitcoin is about to capitulate. According to the expert Capo, Bitcoin is still showing bearish indications. While Capo says that the recent bounce is mostly weaker compared to BTC’s prior rallies since June, bulls have managed to spark a rally from the current bear market bottom of roughly $15,700. Additionally, Capo thinks that its likely that dealers are unprepared for the upcoming decline. He said that the majority of people were stuck at $17,000 or above levels. The “ideal condition for a proper capitulation,” he continues, appears to be being created by the way both cryptocurrency and the stock market are currently trading. Just read the comments here and you will get a second confirmation (first one is the analysis and indicators) that most people are trapped above 17k or higher and couldnt take another drop. Like I said before,