The volatility experienced in the cryptocurrency markets leads investors to constantly follow new developments and make predictions about the future. In this context, Capo, who keeps the pulse of the markets and became famous with the successful prediction he made last year, made an important assessment for Bitcoin and the general crypto markets. Capo believes that a new bear period is approaching in the markets, but suggests that there may be an upward wave first.
According to Capo’s analysis, Bitcoin, Ethereum, and certain altcoins may rise once again before the start of the bear market.
“So the main short timeframe idea is that it will rise here (around $43,000-44,000 for BTC and $2,300-2,400 for ETH) to form a lower high (a new high lower than the previous high). Some altcoins may make new highs. Then the second wave of the bear market should begin.”
Focusing specifically on Bitcoin, Capo analyzes price movements and predicts that BTC may drop to $38,000 in the near future. This can be perceived as a clear signal that the analyst expects a downward trend in the market. However, the prediction that there may be a recovery in crypto assets for a certain period of time before this decline encourages investors to be prepared for possible future fluctuations.
“I expect something like this for BTC.”
At the time of this writing, Bitcoin is trading at $41,333.
Although Capo showed a downward trend in crypto markets, he stated in his recent statements that he closed all his short positions and does not currently have any position in cryptocurrencies. Capo, who has a wide follower base on the platforms where he shares his analyses, stated that many investors have noticed that their portfolios have increased in value in recent weeks and months. However, an important point that Capo emphasizes is that he remains true to his own analysis:
“I know most people have increased the value of their portfolios over the past weeks/months and I’m happy about that. For my part, I just stick to my analysis, always respect the work of others, and spend hundreds of hours doing macro analysis of the entire market, ignoring the noise. The main idea remains the same. There are people who seem upset that I don’t have a crypto position, but that’s my decision and I’m fine that way now. There will always be opportunities.”
Uncertainty and rapid price changes in crypto markets always pose a risk factor for investors. Although Capo’s analysis gives investors a perspective to evaluate the current situation, it is important for everyone to consider their own risk tolerance and investment goals. Before any investment decision regarding crypto assets, it is necessary to conduct detailed research and evaluate expert opinions.
You can follow the current price movement here.