A week prior to the FTX disaster, the price of bitcoin was on the rise and the top cryptocurrency asset was trading above the $20K mark. Bitcoin (BTC) was being traded for $20,485 per coin on November 1. Since Nov. 9, 2022, the price of Bitcoin has been roughly $4K lower and is currently trading at $16,600.
The crypto expert who correctly predicted Bitcoin’s collapse this year believes the market’s dominant cryptocurrency is most certainly headed for fresh bear market lows. Rallies in the cryptocurrency markets, according to expert Capo, are meant for bull traps.
Source: https://coinpedia.org/bitcoin/bitcoinbtc-price-plunging-to-12k-seems-imminent-heres-why/