Analyst Capo of Crypto, who is known for his statements in favor of the bear market and stands out for not giving up his views despite the recent rise in the cryptocurrency sector, shared his new views just when the Bitcoin price reached $ 39,000.
In his message to his followers, il Capo stated that the $38,500 level, which he sees as an important threshold in the Bitcoin price, has been broken and announced that they expect it from now on.
Apparently, the analyst still did not give up on his bearish expectations and in his last post, he said that he expected a metaphorical 'slow bleeding' for BTC from now on and implied that the pace of the decline would be low.
However, he announced that he expects another climb to the $ 2,200-2,300 level for Ethereum. According to the analyst, some altcoins are experiencing their last pump.
However, il Capo claimed that the decline in BTC will accelerate later and a large drop to the $ 30,000-31,000 level will occur.
He argued that during this period, there will be losses in value in the altcoin world and most of the altcoins will dump between 30% and 40%. il Capo stated that after these declines, capitulation events will begin that will bring a big drop in Bitcoin to the $ 12,000 level, which he always talks about.
il Capo also added that his main target for Ethereum is $550-600.
*This is not investment advice.