A popular analyst who accurately predicted the 2022 cryptocurrency crash warns that Bitcoin (BTC ($86,249.00)) 
$97,656 could reach a local peak at any moment. Operating under the pseudonym Capo, he cautioned his 102,828 subscribers on the Telegram platform that Bitcoin might suddenly pull back, potentially losing its recent substantial gains.
Analyst’s Market Perspective
Capo expressed that a correction in the current market is likely for several reasons. He noted that the upcoming inauguration of the crypto-friendly presidential candidate Donald Trump on January 20 is one of the main reasons for this possibility.
He pointed out the excessive optimism in market sentiment and highlighted that retail investors are flocking to meme coins. Capo emphasized that the meme coin rally feels overly extended and unhealthy. He also mentioned that the U.S. government’s possession of 208,109 BTC could exert downward pressure on prices.
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