An analyst who predicted Bitcoin crashes said that 3 coins are close to rally. Let’s take a look at Capo’s current analysis, keeping in mind that the estimates are not precise.
Capo says these 3 altcoins will rally before new lows
The crypto analyst, who foresaw the 2022 crash, is waiting for the rally for Bitcoin, Stellar and Litecoin. In his most recent tweets, Capo told his 549,100 followers that Thursday’s CPI report set the stage for the rally. The analyst predicts that BTC could rise as high as $21,000. But he said he predicted a collapse after the report was released:
No updates = no changes… I’ll reevaluate later, but I’m still waiting for a market rally before the next CPI data. Probably $21,000 for BTC before new lows.
CPI reports are closely watched as they reveal whether the Fed will continue to raise interest rates. In the previous period, we saw that these news had an impact on the markets. Capo expects a rally in these cryptocurrencies ahead of the inflation data the Fed will release on Oct. Bitcoin, which is on the analyst’s radar, is currently down by around 1.5%. It is trading around $19,000 at the time of writing.
Analyst expects these levels in XLM price
Capo also watches the XLM chart closely. The analyst predicts that XLM will rise to $0.167 before losing roughly 50% of its value.
XLM price is currently down over 5% to trade at $0.1182. According to Capo’s predictions, it will rally around 40% before reaching a new low.
Bitcoin seer expects $58 in Litecoin (LTC) price
Next up is Litecoin, which is preparing to rally over 12% towards Capo’s $58 target. According to the analyst’s chart, LTC price will correct from the resistance zone of the ascending channel below. This resistance roughly coincides with around $58.
cryptocoin.comAs you follow, LTC price is trading around $51.72. It was down around 3% compared to the last 24 hours. Meanwhile, Litecoin’s miners have maintained their profitability despite the fact that the price of LTC has witnessed a decline since the last 30 days. According to CryptoCompare, currently mining Litecoin yields a 34% daily profit rate. Additionally, LTC’s hash rate has also witnessed significant growth over the past three months.
Also, a growth on the social front also moved in LTC’s favour. According to LunarCrush, a social media analytics firm, Litecoin’s social interactions were up 10.68% and social bets were up 11.68% last week.
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