The pseudonymous analyst known as Capo tells his 618,400 Twitter followers that Bitcoin has lost key support and predicts that the price may drop significantly.
Capo’s prediction comes as Bitcoin’s price began to plummet in an apparent reaction to the developments around the fallout from the collapse of Sam Bankman-Fried’s giant crypto exchange FTX.
“Key support has been broken and yet you see people bullish. $14,000 is like a magnet.”
He later modified his Bitcoin price estimate by putting it as low as $13,000, arguing that investors have given up trying to make up for lost gains.
“Potential targets for a local bottom