Il Capo of Crypto, one of the analysts well-known in the cryptocurrency world, shared his current thoughts following the developments in Bitcoin and altcoin prices in his statement.
As is known, the Bitcoin price has suffered a major blood loss in recent days and at the time of writing this article, it is trading at $84,556, 22% lower than its all-time high of $109,000.
The decline is attributed to the inflationary effects of tariffs that Donald Trump has threatened to impose on almost all other countries, as well as economic uncertainties in the United States.
However, il Capo stated in its latest analysis that despite the decline, the main plan has not changed, and with prices currently lower than expected, the dead cat bounce price movement it had previously predicted could also be stronger.
The analyst outlined the scenario he had in mind regarding the cryptocurrency market as follows:
- A rapid pump of 10% to 20% may occur soon, but this will be a bull trap.
- The bull trap will be followed by a second wave of declines of 20% to 50%.
- After the last wave of declines, a legendary altcoin season will begin.
*This is not investment advice.
