Crypto Analyst Who Predicted Bitcoin's Collapse Pegs New Price Target: 'When It Breaks Below 16k…'

A popular crypto analyst has pointed out a new price target for Bitcoin BTC/USD, altcoins and s**t coins.

What Happened: According to pseudonymous analyst "Capo of Crypto," BTC will drop somewhere between $12,000 and $14,000. At the time of writing, BTC was trading at $16,201, down 2% in the last 24 hours.

Capo tweeted that when BTC breaks below the $16,000-mark, it will teleport somewhere between $12,000 and $14,000.

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The graph shared by the trader reveals that bearish continuation is likely for altcoins and s**t coins too. Capo predicts 40% to 50% drop in altcoins and more than 50% for s**t coins. Altcoins are generally defined as all cryptocurrencies other than Bitcoin, such as Ethereum ETH/USD, Cardano ADA/USD, Ripple XRP/USD etc.

Meanwhile, s**t coins refer to cryptos that have no value, such as Dogecoin DOGE/USD, Shiba Inu SHIB/USD etc.

Earlier last week, Capo said that market capitulation has started and the “coming week is going to be decisive.”
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