The world of Bitcoin and altcoins has been moving at certain intervals lately. The fact that price movements are in stagnant waters inevitably bothers us. However, there are not only traders in the market. There are also those who bet on the rise or fall. Crypto Capo, who we know for his bearish predictions in Bitcoin, is making an important statement today. Let’s look at the details.
Bitcoin and altcoin market
The Bitcoin and altcoin market continues to grapple with a persistent downtrend as the industry’s flagship Bitcoin (BTC) shows prolonged sideways movement at low price levels and failed to deliver the expected rise. The long-term sideways course of Bitcoin (BTC) causes fluctuations in the cryptocurrency world. On the other hand, it negatively affects many altcoin projects that are currently trading at historically low levels.
Crypto analyst Crypto Capo, known for his bearish outlook, is posting cautionary analysis that has caused concern among investors. He takes a pessimistic view, predicting that Bitcoin could drop as low as $12,000. On the other hand, he is also famous for knowing about collapses. He also actively opens short positions on various altcoin projects whenever he has the opportunity.
Opening a new altcoin short
Recently, Crypto Capo shorted the altcoin CRO, expressing expectations for an even sharper decline. The short position opened at $ 0.050 in the CRO reflects the expectation that the downward trend of the altcoin will continue. On the other hand, Crypto Capo also has views on the altcoin CRO short position. “I’m adding this crypto asset (CRO) to my shorts,” says Crypto Capo, while expressing his views on the hort position decision at CRO.
On the other hand, altcoin CRO is displaying extremely bearish price action. It fell 94% from its all-time high (ATH). Afterwards, it repeatedly tested all-time lows (ATL). It recently surpassed ATL. Now it is testing as resistance now. The analyst points out that the extent of the descent remains uncertain. On the other hand, it is necessary to consider the possibility of a significant market-wide collapse event. Accordingly, he indicates that he started a short position in the CRO, expecting a significant decrease.
Declining expectation
Crypto Capo’s bearish trend in altcoin CRO is noteworthy. It is also in line with his broad outlook for the cryptocurrency market, marked by cautious and forecasts of further downturns.
When we look at Kriptokoin.com, the Bitcoin and altcoin sector is progressing in these difficult market conditions. Investors, on the other hand, continue to pay attention to key indicators and analysis that can offer valuable insights into potential market movements, such as that of Crypto Capo. Let’s see if the analyst will be able to succeed in the position he opened.
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