A popular crypto trader is giving a gloomy forecast for Bitcoin (BTC) and Ethereum (ETH) as the two largest crypto assets by market cap plunge deeper into the red territory.
Pseudonymous crypto analyst Capo tells his 265,300 followers on Twitter that Bitcoin is in a downtrend and warns that buying BTC when the price seems to recover could result in massive losses.
“Yesterday’s pump fully retraced. Bull trap confirmed, and this time it has happened below $40,000.
Every bounce is a bull trap when the trend is bearish.”
He cites Bitcoin’s price surge before the Federal Reserve’s announcement to raise interest