Cryptocurrency analyst il Capo of Crypto, known for his bearish statements, made new predictions about altcoins to his followers this time.
Sharing a chart representing the total market value of all cryptocurrencies except the 10 largest cryptocurrencies in the world by market value, the analyst claimed that this chart tested a major support in the current situation.
il capo said that the main resistance on that chart has not yet been reached and that is why he added some exposure from altcoins to his portfolio. According to the latest information, 30% of the analyst's portfolio consists of altcoins and the rest consists of cash dollars.
The analyst claimed that there would be a final rise in the altcoin market and then a move towards new lows. According to the analyst, “other altcoins”, which currently have a market value of $188 billion, may rise to a market value of $275 billion with the rise, but will ultimately fall to a market value of $29 billion to $24 billion.
Also evaluating the price of Polkadot (DOT), il Capo claimed that there may be an increase from the current level of $ 6.41 to $ 10, and then a return to a low level of $ 2.
*This is not investment advice.