The crypto market welcomes another turbulent season as bears seem to be overpowering the bulls considering recent price movements. In consequence, several investors have suffered huge liquidations while the total crypto market capitalization has recorded a significant decline.
Accordingly, many top crypto analysts have shared their price predictions for Bitcoin (BTC), Ethereum (ETH), and other top crypto assets in the coming weeks.
Although some opine that BTC, which went as low as $17K would rebound soon, a reputable trading expert, who accurately forecasted the market crash that occurred in early 2022, believes the crypto downtrend is far from over, especially for coins like BTC, ETH, and SOL.
He tweeted, “bottom is far from in, price wise. Time wise, I think it could happen in the next few days. This can only end one way: final capitulation event with tons of liquidations, massive FUD everywhere, most people bearish and calling for lower prices.”
Bottom is far from in, price wise. Time wise, I think it could happen in the next few days.
This can only end one way: final capitulation event with tons of liquidations, massive FUD everywhere, most people bearish and calling for lower prices…
— il Capo Of Crypto (@CryptoCapo_) November 9, 2022
Read Also: ARK Invest CEO Cathie Wood Predicts When Bitcoin (BTC) Would Reach $1,000,000
Bitcoin (BTC) and Ethereum (ETH) Price Analysis
In a Wednesday Twitter thread, the pseudonymous cryptocurrency analyst, CryptoCapo, posted his chart analysis for Bitcoin (BTC), Ethereum (ETH), and a few other large-cap digital assets like FTT.
Based on his analysis, the leading cryptocurrency, Bitcoin (BTC), has a potential local bottom of $14K, given that BTC broke its support level of $18,600. At the time of writing, BTC, which has plummeted over 10% in the past 24 hours, is trading for $17,600 per coin.
“Key support has been broken and yet you see people bullish. $14k is like a magnet,” CryptoCapo told his 613K Twitter followers.
Key support has been broken and yet you see people bullish.
$14k is like a magnet. pic.twitter.com/UWjWAArgIZ
— il Capo Of Crypto (@CryptoCapo_) November 9, 2022
Read Also: Bitcoin (BTC) at $250,000? I Expect it to Happen By Mid-2023, Says Billionaire Tim Draper
In the last 24 hours, the second-largest crypto asset Ethereum (ETH), has declined by over 15% and is currently trading for $1,224. According to CryptoCapo, ETH looks bearish and is likely to touch the $700-$750 range.
$ETH pic.twitter.com/XC1XAHFgmu
— il Capo Of Crypto (@CryptoCapo_) November 9, 2022
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