Il Capo of Crypto, one of the most followed analysts in the cryptocurrency world, published a new statement as Bitcoin surpassed $ 50,000 after a truly impressive rally.
In his previous statements, il Capo said that his short-term goal was 50,000 dollars. In his update, he stated that, as he said, $50,000 was reached and that his bullish optimism was valid up to 50,000.
The analyst said that he expects Bitcoin to see a rejection at the $ 50,000 level and that altcoins will pump in the meantime, causing a divergence. The analyst declared that he expected a decline in both BTC and the rest of the cryptocurrency market after the rise of altcoins.
In his previous statements, il Capo said that his ultimate target for Bitcoin was $ 12,000, but argued that $ 50,000 could be seen first with the start of the rise.
On the other hand, il Capo is often criticized by the crypto community for expecting a large-scale capitulation event to occur while the cryptocurrency market is on the rise.
*This is not investment advice.