Analyst Capo of Crypto, who is famous in the cryptocurrency market with his intensely bearish views on Bitcoin, also touched upon the possibility of an increase in Bitcoin in his latest analysis.
Stating that he expected the BTC price to rise from around $26,900 in the first place to $28,500 in the first place, he claimed that in mid-September, it would go below $25,000 with a downward wave again.
The Analyst Expects a First Decrease to $12,000 and Then a Rise to Above $40,000 in 2024
Ultimately, il Capo, who previously announced that he has a target of $12,000, believes that this level will be seen before 2024. The analyst argues that there will be a jump in the price of Bitcoin after reaching $ 12,000 and that it can return to today's levels in the spring of 2024.
Following this return, the analyst believes that after a sudden drop to around $25,000, BTC will rise above $40,000 again after a long break with a sudden rise in the summer of 2024.
It also attracted attention that there is a high probability that a Bitcoin spot ETF will be approved in the spring of 2024, when the analyst claims that the Bitcoin price will drop to $ 12,000. According to some experts, the ETF in question may create downward pressure on the BTC price.
*This is not investment advice.