Il Capo of Crypto, one of the most well-known analysts in the cryptocurrency world, spoke in his statement following the decline in the Bitcoin price.
Bitcoin is trading at $92,500, about 14% lower than the previous all-time high of $108,000.
il Capo recently said that he thinks the next bull wave in the cryptocurrency market will be largely in favor of altcoins. He added that many Altcoin/BTC pairs appear to be in favor of the bulls.
According to the analyst, the majority of Tier 1, artificial intelligence (AI), real-world assets (RWA), and DeFi tokens could reach new highs. Il Capo even thinks coins like Ethereum and XRP could also break new all-time high price records.
However, il Capo said that he is not bullish about Bitcoin. He said that the BTC price could reach a new record high of $110,000, but that altcoins will outperform BTC. He added that he has even less bullish views on memecoins. According to the analyst, the vast majority of memecoins have reached their local peaks, and although they may bounce in the coming days, he does not think they will be able to surpass their previous peaks.
*This is not investment advice.
