Analyst Predicts Bitcoin and Solana to Hit New Lows in 2022
An analyst who accurately predicted the 2022 crypto meltdown is now warning that both Bitcoin (BTC) and Solana (SOL) are likely to see new lows this year.
Bitcoin’s Potential Downward Movement
Pseudonymous trader Capo, who shares insights with over 121,000 subscribers on Telegram, believes that Bitcoin could rally to $100,000 initially to set up a bull trap. A bull trap is a false signal that tricks traders into thinking the market is bullish, only to see a sharp reversal and price drop. Capo expects Bitcoin to eventually hit around $63,000 as part of a massive capitulation event.
Despite Bitcoin breaking below $84,000, Capo still sees a possibility of a bear trap scenario. He remains cautiously bullish, especially if BTC can reclaim the $84,000 or $85,000 levels soon.
As of the latest update, Bitcoin is currently trading at $82,936.
Solana’s Potential Price Movement
Capo also predicts a similar pattern for Solana, expecting the cryptocurrency to make a strong move towards $180-$200 before eventually dropping to $100. At the time of writing, Solana is valued at $125.
Both Bitcoin and Solana are expected to experience volatile price movements in the coming months, with potential downside targets in sight.
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