Crypto Capo or Il Capo of Crypto, a popular cryptocurrency analyst, shared the coins in his focus in his latest tweets. The analyst drew attention to cryptocurrencies such as AAVE, SOL, TRX and stated that he opened a short position in them, that is, he was in a short selling position. Here are the details…
Analyst pointed to AAVE and these altcoins: In short position
Il Capo of Crypto, a well-known anonymous trader and analyst in the cryptocurrency market, shared his thoughts on altcoins in a recent tweet. He noted that most altcoins are facing strong resistance levels and have not made new local highs compared to Bitcoin. He also pointed out that Bitcoin pairs are in a strong downtrend. Apart from that, Capo Crypto stated that the total market cap of altcoins is currently in a bearish trend and the next level of support is much lower.
Analyst; He stated that he is still short on Binance Coin (BNB), TRON (TRX), AAVE and Solana (SOL). However, he has announced that he can add Polygon (MATIC) and Phantom (FTM) to his portfolio of coins that he is in a short position. The short position portfolio makes up 30 percent of the analyst’s portfolio. The remaining 70% in its portfolio is in USD. While he has been criticized for his bearish views on the crypto market, his forecasts and analysis are closely watched by cryptocurrency traders and investors for their historical accuracy.
Capo came up with his correct predictions
cryptocoin.com As we reported earlier, Il Capo is a crypto analyst with a history of accurately predicting the movements of many cryptocurrencies, especially market bottoms. For example, he correctly predicted the drop to $50,000 for BTC during the 2021 crash. He also correctly predicted that BTC would drop to $3,500 in 2020. Given his background in predicting market movements, Il Capo’s latest analysis and forecasts are closely followed by crypto traders and investors. While some may disagree with the bearish outlook for BTC, his analysis highlights the importance of doing extensive research and analysis when making investment decisions in the volatile crypto market.
Currently, Bitcoin is pretty close to $30,000, but according to Capo, this is a bull trap and the cryptocurrency could drop as low as $12,000. At the time of writing, the price of BTC has been flat in the last 24 hours and is around $29,882. In the last seven days, the coin has gained 0.8% momentum. The market cap of BTC hovers around $578 billion.
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