Crypto trader Capo, Bitcoin It is claimed that the price may correct towards $ 30,000 levels in the near future. did.
According to Capo, things may become even more interesting as the mobility in the BTC price brings vitality to the altcoin market. According to the trader’s prediction, after BTC pumps, money may flow towards lower-priced assets.
Capo uses the Elliott Wave theory, which states that the underlying trend of the asset’s price moves in a five-wave pattern, and a correction occurs in a three-wave pattern.
According to Capo, the fifth wave could catapult Bitcoin to $50,000, resulting in capital flowing into altcoins. The analyst also thinks that BTC could later drop to the $30,000 to $31,000 range, which could remain as support and lead to a possible price bounce above $33,000.
As Koinfinans.com reported earlier this week, Capo responded to the news that the U.S. Securities and Exchange Commission (SEC) had approved spot Bitcoin exchange-traded funds (ETFs). crypto- He predicted that the market would rise. He predicted that the crypto market would peak after the rally, reverse the downtrend, and see new cycle lows.