Capo of Crypto, one of the most well-known analysts in the cryptocurrency world, published an update for his followers following the latest developments in the Bitcoin and altcoin world.
According to the analyst, a pump may occur in the Bitcoin price from the current level in the low time frame. il Capo thinks that as a result of this upward wave, the BTC price may climb to $43,000-44,000. However, he expects a rise between $2,300 and $2,400 for Ethereum.
According to the analyst, some other altcoins may also form new peaks during this temporary rise period.
However, the analyst claims that the second period of the bear market will begin after this upward wave. Sharing a chart to his followers, il Capo thinks that there will be a decline in the BTC price below $ 40,000 after around $ 44,000.
It is known that the analyst’s ultimate target is $ 12,000 for BTC.
However, the analyst, who also published an update for BNB, reminded his thoughts in favor of the decline and explained that he did not like the current price movement and closed 75% of his short positions at the level of 250 dollars. The analyst stated that he opened these positions when the BNB price was at $ 301.
il Capo stated that it is keeping the remaining short positions in the BNB altcoin open for now.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/prominent-analyst-il-capo-assesses-btc-price-and-reveals-the-altcoin-he-closed-his-short-position/