Il Capo of Crypto, one of the leading analysts in the cryptocurrency world, announced in his statement that he will purchase a new altcoin and make important predictions about the future of Bitcoin. The analyst draws attention with his evaluations focusing on the UniSwap (UNI) altcoin project.
Altcoin statement from Il Capo
il Capo announced that while conducting his analysis, he decided to make a spot purchase of the UniSwap (UNI) token at $ 6.54. The analyst set a target of $12 to $14.50 for this altcoin. Although il Capo is generally known for its bear market expectations, this move is a significant announcement as it is the first time it has purchased an altcoin in a long time. However, in his statements, il Capo states that a serious collapse may occur after UNI reaches between 12 and 14.50 dollars. The analyst suggests that in this case, UNI could fall between $1.75 and $2.05.
il Capo also shared his views on Bitcoin (BTC) during his statements. The analyst made interesting predictions for BTC, which is at $ 42,844. Stating that BTC may exceed $ 50,000 in the near future, il Capo predicts a decline between $ 30,000 and $ 31,000 only if there is a decline after this point. Capo stated that a decline from the current level below $40,000 to $41,000 could confirm the bear scenario. The analyst, who has closed all his short positions in the past months and currently does not have any position in cryptocurrencies, draws attention with his wide follower base in the market.
What is Uniswap?
UniSwap is a decentralized finance (DeFi) protocol and decentralized exchange (DEX) built on the Ethereum blockchain. It allows users to exchange various ERC-20 tokens directly from their wallets without the need for a central intermediary. UniSwap is known for its automated market maker (AMM) model, which allows users to trade cryptocurrencies in a decentralized manner by providing liquidity to liquidity pools.
UniSwap uses an AMM system. This means that trades are executed based on liquidity pools rather than traditional order books. Liquidity providers contribute to these pools by depositing the equivalent value of two tokens. Additionally, liquidity providers add funds to these pools and receive fees in return. The ratio of two tokens in a pool determines the exchange rate. The more liquidity a pool has, the less slippage users experience when trading. The altcoin UNI, highlighted by Capo, is also a part of this ecosystem.
Capo’s previous predictions
cryptokoin.com As we reported, Crypto Capo attracted attention with its accurate predictions in the second half of 2022. At that time, the declines he predicted in the Bitcoin and altcoin markets came true. It also came to the fore with the claim that there would be a decline in prices at the beginning of 2023. Therefore, his name changed to “bear analyst”. In a period when the analyst reminds us of his previous successful predictions, we will continue to closely follow the developments in the cryptocurrency markets.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.