Popular crypto analyst il Capo of Crypto, known for his bearish views on Bitcoin and the general cryptocurrency market, shared a post about the fake “Bitcoin spot ETF approved” news that spread today.
Il Capo shared a “laughter” GIF after it was discovered that the BTC news was fake. After this, he announced his current prediction for the Bitcoin price.
The analyst claimed that BTC's next move will be between $19,000 and $20,000, followed by a decline to $12,000.
Claiming that the $ 12,000 level will be the bottom point, the analyst argued that there may be a jump above $ 19,000 around January 2024.
Another analysis shared by il Capo a few days ago was about the situation of altcoins. According to the analyst, altcoins have the potential to decline by 70-80% even from current levels. The analyst announced that he had short positions and profits in BNB, AAVE, WAVES, MATIC and SOL altcoins. However, he reported that he was neutral in his other short positions, CRO, and at a loss in his TRX short position.
He also shared that he was bearish for AVAX and expected a decline to $2.62.
*This is not investment advice.