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Crypto Strategist Who Predicted May 2022 Bitcoin Crash Says One Top-Five Altcoin Set To Plummet by Over 80%

Binance Coin (BNB) is on the verge of collapsing, according to a widely followed crypto analyst who predicted the Bitcoin (BTC) crash in May 2022.

Capo, a pseudonymous crypto trader, tells his 697,100 Twitter followers that the native token BNB of the giant crypto exchange is likely to fall by more than 80%.

“Adding the final part to the BNB short, average entry: $265. The primary target remains $40-$45. This is a swing trade with very little leverage; it is not financial advice.”

According to Capo’s chart, BNB will first fall to the $125 to $135 price level, followed by a drop to the $40 to $45 price level by June.

BNB is currently trading for $258 at the time of writing.

Capo also predicts that Bitcoin will fall by more than 28% from its current value to a low of $12,000 this year, after trading sideways in the mid to high $16,000 range.

“$16,600, $16,800, $16,600, $16,800, $16,600, $16,800… And then there’s $12,000 when you least expect it.”

According to Capo’s chart, Bitcoin will fall to $12,000 and altcoins will fall by 50% to 60% before the spring. According to his chart, once Bitcoin has bottomed, it will likely rally to more than $20,000 by May.

He also believes that any near-term Bitcoin rally will act as a bull trap, similar to the price action of 2022.

“It takes a tiny pump into resistance to turn everyone bullish again. This same trap has been repeated throughout 2022, and people have yet to learn. $12,000 is a strong possibility.”

Bitcoin is currently trading at $16,856 at the time of writing.

 

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.