Il Capo of Crypto, known as the “bear analyst” of the cryptocurrency market, shared some ideas in favor of the bear market again in his last post with his followers.
Despite the recent declines, the real breakout has not yet occurred, according to the analyst, who expressed this situation by saying, “we haven’t seen anything yet.”
According to il Capo, altcoins have fallen significantly from their local peaks, despite Bitcoin still being above $100,000. The analyst noted that this situation could be felt even more severely in altcoins as the BTC price drops to the first support point of $93,000 and then to the main support band of $60,000–70,000: “Imagine what could happen if it falls here.”
The analyst, who had been making bullish statements until recently, turned to the bearish side again, but contrary to all his claims, the BTC price broke the record for an all-time high price level again.
Today, the BTC price fell below the important psychological threshold of $ 104,000. At the time of writing, the world's largest cryptocurrency is trading at a price level of $ 103,386.
*This is not investment advice.
