Top Crypto Trader Warns of an Unfolding Bitcoin (BTC) Bull Trap, Predicts Ethereum (ETH) Will Drop Over 50%
-Crypto analyst Capo says that Bitcoin is in a downtrend and warns that buying BTC when the price seems to recover could result in massive losses.
-He cites Bitcoins price surge before the Federal Reserves announcement to raise interest rates on Wednesday. Bitcoin has since dropped.
-Capo also says that Ethereum, which is currently changing hands at $2,750.73 after losing 6.23% of its value in the last 24 hours, could also drop to as low as $1,100.
-The analyst says that ETH is now in a distribution phase, which could indicate the price direction of the leading smart contract platform.
-Capo warns traders to be particularly cautious of bull traps amid the bear market.
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