Il Capo of Crypto, one of the experienced analysts of the cryptocurrency market, shared his latest views in the light of the latest developments in the market.
As is known, there have been sudden declines in many cryptocurrencies led by Bitcoin in the last 24 hours. The reason for this was believed to be the second assassination attempt on Donald Trump.
According to il Capo, the Bitcoin price looks set to continue its previous bull rally on lower time frame charts.
On the other hand, the analyst also talked about the ETH/BTC parity, which recently fell to its lowest level in the last three and a half years. ETH/BTC had become one of the agenda items of the cryptocurrency community by falling below the 0.040 level.
The analyst argued that there is a lot of FUD in this pair. Despite this, il Capo said that the chart of this pair is at a major high time frame support level. and added that he expects a bounce in the near future.
In addition, he also noted that there is currently a high demand for ETH and although sentiment is bearish, he expects a rally as it is hovering around major support.
*This is not investment advice.