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A pseudonymous crypto analyst, who first accurately predicted Bitcoin’s BTC/USD dramatic collapse earlier in 2022, has made a new, startling prediction for the current week.
What Happened: ‘Capo Of Crypto’ told his 685,000 followers on Twitter that BTC will soon reach the $17,500 level and then drop to $12,000.
See More: Best Crypto Day Trading Strategies
On Nov.28, the analyst pointed out a new price target for altcoins and s**t coins. The graph shared by the trader indicates that bearish momentum is highly likely for both altcoins and s**t coins.
According to Capo, a decrease of 40-50% in prices for altcoins and a startling drop of over 50% for s**t coins is inevitable
Altcoins are generally defined as all cryptocurrencies other than Bitcoin, such as Ethereum ETH/USD, Cardano ADA/USD and Ripple XRP/USD.
On the other hand, s**t coins refer to cryptos that have no real purpose or value, such as Dogecoin DOGE/USD, Shiba Inu SHIB/USD, etc.
Price Action: At the time of writing, Bitcoin was trading at $17,163, up 1.50% in the last 24 hours, according to Benzinga Pro.
