{"id":40399,"date":"2023-01-06T10:52:54","date_gmt":"2023-01-06T10:52:54","guid":{"rendered":"http:\/\/egrowonline.com\/?p=40399"},"modified":"2023-01-06T10:52:54","modified_gmt":"2023-01-06T10:52:54","slug":"bitcoin-price-might-drop-to-12k-while-bnb-price-poised-to-crash-80","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=40399","title":{"rendered":"Bitcoin Price Might Drop To $12K, While BNB Price Poised To Crash 80%"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Despite the cryptocurrency market\u2019s strong recovery and a recent spike in BNB purchases, one analyst is predicting that Binance Coin (BNB) will crash.\u00a0<\/p>\n<p>Capo, a crypto trader with 697,100 Twitter followers, forecasts a drop of more than 80% in the value of BNB. This comes despite news of Binance launching Cristiano Ronaldo\u2019s NFT collection and acquiring a South Korean exchange, which some might see as bullish indicators.<\/p>\n<h2>Make-or-Break For Binance Coin<\/h2>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Adding the last part to the <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"noopener\">$BNB<\/a> short, avg. entry: $265<\/p>\n<p>Main target remains $40-45<\/p>\n<p>This is a swing trade with very low leverage, not financial advice. <a target=\"_blank\" href=\"https:\/\/t.co\/qzp6OEoVnf\" rel=\"noopener\">https:\/\/t.co\/qzp6OEoVnf<\/a><\/p>\n<p>\u2014 il Capo Of Crypto (@CryptoCapo_) <a target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/1610545671257395201?ref_src=twsrc%5Etfw\" rel=\"noopener\">January 4, 2023<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n<p>After adding the final piece to the BNB short, the typical entry is now $265. The range of $40\u2013$45 continues to be the primary aim.\u00a0<\/p>\n<p>This is not financial advice; rather, it is a panic trade with very little leverage.<\/p>\n<p>According to Capo\u2019s analysis of the BNB price chart, the cryptocurrency will first fall to the $125\u2013$135 range, and then to the $40\u2013$45 range by the end of June.<\/p>\n<p>The current market price of BNB is $258.<\/p>\n<h2>Bitcoin Price To Drop 28%<\/h2>\n<p>After trading sideways in the area of mid to high $16,000, Capo continues to forecast that Bitcoin\u2019s value would shortly drop by more than 28% from its current level to a low of $12,000.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">16600, 16800, 16600, 16800, 16600, 16800\u2026<\/p>\n<p>And when you least expect it\u2026<\/p>\n<p>12k<\/p>\n<p>\u2014 il Capo Of Crypto (@CryptoCapo_) <a target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/1610555950443773954?ref_src=twsrc%5Etfw\" rel=\"noopener\">January 4, 2023<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n<ul>\n<li>Overall, Bitcoin has been trading sideways in the mid to high $16,000 level prior to this. $16,600, $16,800, $16,600, $16,800, $16,600, $16,800. To the tune of $12,000 when you least expect it.<\/li>\n<li>After examining the chart, he concluded that before the spring, the price of Bitcoin will fall to $12,000 and the price of altcoins would fall by around 50-60%.\u00a0<\/li>\n<li>Hence, according to his analysis, once the price of bitcoin has bottomed out, there is a good chance that it will surge to above $20,000 around May 2023.<\/li>\n<\/ul>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\" \/>\n<p><strong><em>It has been said that \u201ca chart is worth a thousand words.\u201d<\/em><\/strong><\/p>\n<h2><strong>Investors heed the warning<\/strong><\/h2>\n<p>He further argues that any future Bitcoin price appreciation will be a \u201cbull trap,\u201d analogous to the market behavior in 2022.<\/p>\n<p>A small infusion into resistance is all that\u2019s needed to restore confidence. Throughout all of 2022, this identical hoax has been played on countless unsuspecting victims. The likelihood of spending $12,000 is high.<\/p>\n<p>Bitcoin is trading at $16,856 at the time of this writing.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiYWh0dHBzOi8vY29pbnBlZGlhLm9yZy9hbHRjb2luL2JpdGNvaW4tcHJpY2UtbWlnaHQtZHJvcC10by0xMmstd2hpbGUtYm5iLXByaWNlLXBvaXNlZC10by1jcmFzaC04MC_SAWVodHRwczovL2NvaW5wZWRpYS5vcmcvYWx0Y29pbi9iaXRjb2luLXByaWNlLW1pZ2h0LWRyb3AtdG8tMTJrLXdoaWxlLWJuYi1wcmljZS1wb2lzZWQtdG8tY3Jhc2gtODAvYW1wLw?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite the cryptocurrency market\u2019s strong recovery and a recent spike in BNB purchases, one analyst is predicting that Binance Coin (BNB) will crash.\u00a0 Capo, a crypto trader with 697,100 Twitter followers, forecasts a drop of more than 80% in the value of BNB. This comes despite news of Binance launching Cristiano Ronaldo\u2019s NFT collection and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":40400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[11247,50,564,1000,1371,725,195],"class_list":["post-40399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-12k","tag-bitcoin","tag-bnb","tag-crash","tag-drop","tag-poised","tag-price"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/01\/bnb-price-new-low-.webp.webp","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/40399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40399"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/40399\/revisions"}],"predecessor-version":[{"id":40401,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/40399\/revisions\/40401"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/40400"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40399"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}