Analyst Predicts the Resumption of the Bear Market for Crypto
An analyst, known as Capo, who accurately predicted the 2022 crypto collapse, believes that the crypto markets are heading towards much lower prices. Capo suggests that Bitcoin (BTC), Ethereum (ETH), and some altcoins may experience one more upward surge before the next leg down.
Capo’s short-term prediction is that BTC could form a lower high at around $43,000-$44,000, while ETH could reach $2,300-$2,400. Some altcoins may even make new highs. However, after this surge, Capo expects the second wave of the bear market to commence.
Capo’s chart indicates that BTC could drop as low as $38,000. Currently, BTC is trading at $41,114.
Capo’s Current Position and Outlook
Despite being bearish on the crypto markets, Capo has closed all his shorts and is not currently exposed to crypto. He explains that he is faithful to his analysis and has spent countless hours conducting a macro analysis of the entire market while ignoring noise.
Capo emphasizes that although others may resent his decision to stay out of the market, he believes it is the right choice for him. He remains confident that there will always be opportunities available.
Hot Take: Analyst Anticipates Second Wave of Bear Market
An analyst who accurately predicted the 2022 crypto collapse is now warning of a second wave of the bear market for cryptocurrencies. The pseudonymous analyst, known as Capo, believes that Bitcoin (BTC) and other cryptos are about to witness a resumption of downward movement.
Before this next leg down occurs, Capo predicts that BTC, ETH, and some altcoins may experience another surge. However, after this surge, the analyst expects the second wave of the bear market to begin. Capo’s chart shows BTC dropping to as low as $38,000.
Although Capo is currently not exposed to crypto, he remains faithful to his analysis and believes there will always be opportunities in the market.
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