Crypto Analyst Who Accurately Predicted Bitcoin Collapse Says 'I'm 100% Out Of Market'

Popular cryptocurrency analyst ‘Capo of Crypto’ on Twitter said that market capitulation has started and the “coming week is going to be decisive.”

What Happened: Capo tweeted, “I'm 100% out of the market" amid the FTX (CRYPTO: FTT) collapse. This comes as apex crypto Bitcoin (CRYPTO: BTC) dropped 4.21%, trading at $16,010. Ethereum (CRYPTO: ETH) declined as much as 8%, trading at $1,121 in the last 24-hours.

It should be noted that Capo predicted this year’s Bitcoin collapse and said it is likely heading to new bear market lows. 

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On Sunday, the trader tweeted that it is “going to be a big week.” The pseudonymous analyst reiterated that “altcoins could drop 40-50% from here.”

Just the beginning. https://t.co/Ju1twjxQYG pic.twitter.com/AuPw4kRdqI

— il Capo Of Crypto (@CryptoCapo_) November 21, 2022

Capo believes that the current rally in the crypto market is meant to trap bulls, and a Bitcoin drop to lower levels will happen in the near term. In a Twitter post, he shared how BTC has flipped support at $17,600 into resistance.

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