Analyst Capo, who correctly knew the collapse in Bitcoin (BTC) this year, came to the fore with his latest statements about the largest cryptocurrency by market capitalization. The analyst is now warning investors of an impending altcoin boom. Here are the details…
Bitcoin analyst warns his followers
As we have reported as Kriptokoin.com, the analyst, who came to the agenda with his correct predictions before, made new statements. Analyst Capo stated that financial markets look bad. But he noted that conditions are even worse for altcoins. “The whole market is looking bad,” the analyst says. He also claims that altcoins are likely to see a 50-55% drop on average. Apart from that, it points to the possibility of shitcoins experiencing a bigger drop. The analyst uses the following statements:
The whole market looks bad… The thing is, some altcoins look even worse. If altcoins dump an average of 50-55 percent at this point, even shitcoins alone can easily dump 60-90 percent. Stay safe.
Capo recently predicted new bear market lows for Ethereum (ETH), the largest altcoin by market cap. According to the strategist, BTC could drop as low as $12,000, while ETH could drop to $600-650. The analyst underlined that the trend is still bearish. He stated that the “bad news” should come soon, as Bitcoin will see $12,000 and ETH $600-650.
Most BTC holders are at a loss
Earlier, Capo stated that Bitcoin bulls may have ignited a rally from the current bear market low at $15,700. But he also said that the bounce was significantly smaller than what was seen in Bitcoin’s bullish rallies in June. “Every bounce is smaller. Low lows and low highs. Support turns into resistance. $12,000 is like a magnet,” he said. The trader stated that at the time, most Bitcoin holders were at a loss and were ill-prepared for what was to come. The analyst used the following statements:
Read the comments here and you will get a second confirmation (analysis and indicators first), most people stuck above $17,000 and could not handle another drop. As I said before, most people are not prepared for what is coming, and that is evident.
Analyst noted the possibility of $ 45,000
Another analyst, Jason Pizzino, warns that Bitcoin (BTC) is not guaranteed to set a new record as in previous bull cycles. Pizzino explained what it takes for Bitcoin to reach an all-time high in its next bullish phase. He suggests that BTC should reach a key Fibonacci retracement level and break above certain resistance levels. However, the crypto analyst and trader says it is impossible to predict a new record for Bitcoin “for now”. The analyst used the following statements:
Could Bitcoin hit an all-time high in the next bull market cycle? Therefore, if we only look at Bitcoin and Bitcoin and not ETH or other cryptocurrencies, we should see Bitcoin rise above $34,500. Why is that? This is the 50% [Fibonacci] level from the all-time high to the all-time low. And the all-time low for Bitcoin is basically zero. In other words, $ 34,500 must be exceeded.
According to Pizzino, if the flagship crypto asset drops to around $15,000, Bitcoin could rally as high as $45,000 in the next cycle in a “worst-case scenario.” Currently, BTC is trading at $16,676.
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