New statements came from the analyst using the pseudonym Capo, who made a name for himself with his accurate predictions about the Bitcoin and cryptocurrency market in 2022.
Capo of Crypto, who is known for his bearish views and is frequently criticized by investors for his bearish comments, evaluated Bitcoin and altocins.
Stating that Bitcoin reached the range of $ 48,000-50,000 and Ethereum reached the range of $ 2,500-2,600, il Capo said that there may be one last pump until BTC reaches $ 50,000.
Stating that altcoins will rise further after this pump, the analyst argued that BTC will go horizontal while altcoins rise.
Stating that the entire market will reverse and decline a few days after all these pumps and rises, il capo continued his words as follows:
“BTC reached 48k-50k; ETH reached $2500-2600.
A final pump up to 50k in BTC is possible.
After BTC reaches $50,000, BTC should move sideways as altcoins pump further (money flows from Bitcoin to altcoins).
“A few days after this rise and pump, the entire market should reverse and begin to decline.”
Additionally, the analyst stated that Bitcoin received a strong rejection from the $48,000-50,000 resistance area, and said that this is an indication that large investors are selling between $48,000-50,000.
However, il Capo argued that the whales did not meet all their demands, so he said that BTC could reach the $ 50,000 level before the big drop.
*This is not investment advice.