Crypto Capo, one of the famous cryptocurrency analysts, shared his latest thoughts on the Bitcoin and altcoin space. He also explained how he took a position in which altcoin. Crypto Capo has announced its short selling positions in altcoins in response to the recent drop in Bitcoin and Ethereum prices. Standing out with his accurate predictions on crypto market movements, Capo stated that he shorts Binance Coin (BNB) and Tron (TRX) among other altcoins. Here are the details…
Analyst shorts these altcoins
Crypto market analyst Crypto Capo, known for accurately predicting the 2022 crypto market crash, has made new statements. As Bitcoin and Ethereum reported, the U.S. Commodity Futures Trading Commission announced it is shorting altcoins including Binance Coin (BNB) and Tron (TRX) as they continue to fall in response to the Binance and Changpeng Zhao lawsuit. In other words, the analyst opened a “short position” in these coins. In a tweet to his 734,000 followers, Crypto Capo stated that his main short positions are BNB and TRX, as he previously stated. He also noted that there are other short selling positions, including AAVE and SOL.
When a Twitter user asked if he would be liquidated when prices went up, Crypto Capo replied, “Your thoughts and facts are two different things. All this time I’ve been shorting altcoins fast,” he said. Crypto Capo for Binance Coin recommends that investors consider shorting between $250 and $350. He believes it is possible to create an “oscillating” short position between 250-350, given that potential targets are much lower than current prices, and this range is a massive over two-year range redistribution scheme.
Analyst drew attention with Bitcoin predictions
cryptocoin.com As we reported, Crypto Capo is a cryptocurrency analyst with a history of accurately predicting the movement of many cryptocurrencies. He became a leading analyst, especially with his knowledge of market bottoms. For example, two years ago, he correctly predicted the drop seen in 2021 – that BTC would drop to $50,000. Apart from that, he accurately predicted that BTC will drop to $3,500 in 2020. Capo’s most recent forecast was for BTC to bounce back to $16,000 in October, with the cryptocurrency falling to $17,000. According to the data, Bitcoin was trading at $28,500 at the time of writing, up 5% in the last 24 hours. The coin manages to maintain its bullish sentiment since the beginning of 2023. Time will tell what will happen in the future.
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