Crypto Analyst Who Predicted 2022 Bitcoin Meltdown Says BTC Has Reached A ‘Local Bottom’

Crypto Analyst Who Predicted 2022 Bitcoin Meltdown Says BTC Has Reached A ‘Local Bottom’
Bitcoin medals in Washington on June 17, 2014. Karen Bleier/AFP via Getty Images
Benzinga
Updated:

Bitcoin closed around $20,000 on Saturday, and on Sunday, the cryptocurrency dropped 1.55 percent to $19,708. BTC is down 58.9 percent from the year’s high of $48,234 on March 28.

The macroeconomic warnings from Goldman Sachs and Fed’s approach to interest rate hikes have played a significant role in determining Bitcoin’s price trends.

What Happened

The pseudonymous crypto analyst Capo has predicted that the overall cryptocurrency market will see a downfall, and accurately mentioned Bitcoin’s crash this year.