Il Capo Of Crypto, as one of the leading traders in the crypto market, made a big surprise today that Bitcoin could fall to the level of $ 12,000. guess he did. Il Capo Of Crypto is a figure with a large following in the cryptocurrency space and is known for his previous predictions. Today’s forecast has shaken the expectations of Bitcoin price showing positive momentum. Considering the recent uptrend and investor optimism, a bearish forecast of $12,000 was considered quite striking and shocking.
This prediction is all the more remarkable as it was made at a time that reflects a generally positive outlook in the cryptocurrency market and supports investors’ expectations for value growth. As we reported earlier, after the positive news from BlackRock, Bitcoin managed to get back $30,000.
Besides, the trader announced that he decided to leave the social media platform, citing the loss of empathy and respect in the digital world. In its farewell message, Il Capo of Crypto highlighted that market analysis and positioning are often misunderstood.
He also revealed that during Bitcoin’s recent rally, he did not short BTC, but instead shorted altcoins such as BNB, Tron (TRX), Solana (SOL), Aave (AAVE) and Polygon (MATIC). The trader based this move on the belief that altcoins can move more and their charts are clearer.
On the other hand, he noted that the bearish Bitcoin chart is not always equivalent to a short position.
Il Capo of Crypto also apologized for the confusion it caused, acknowledging that some of its latest predictions were less accurate. He reiterated that the extreme volatility of the cryptocurrency market can make accurate predictions difficult.
Despite his belief that recent market movements have been manipulated by stablecoins such as BUSD, USDC and TUSD, he has always argued that he aims to help the community as much as possible. He also warned that negative news against Binance and Justin Sun could herald more serious issues in the crypto industry.
Despite leaving Twitter, Crypto Of Il Capo remained adamant on its bearish outlook, noting that Bitcoin could potentially fall to $12,000 and Ethereum to $500 to $700. The trader also promised to return “stronger than ever” to the platform.
As a result, Il Capo Of Crypto’s decision to leave the social media platform, along with the prediction that the price of Bitcoin could drop to $12,000, has taken the cryptocurrency community by surprise.
You can follow the current price action here.