One analyst who has remained bearish on cryptocurrencies after accurately calling the 2022 crash believes markets will see much lower prices.
Pseudonymous analyst Capo tells his 81,200 Telegram subscribers that he believes in Bitcoin (btc) and the rest of the crypto markets are about to witness the resumption of the bear market.
But before the next leg could be made, Capo predict than Bitcoin, Ethereum (ETH) and some altcoins could suffer a more bullish explosion.
โSo the main idea of โโa reduced deadline is:
Pump from here to form a lower high (around $43,000-$44,000 for BTC and $2,300-$2,400 for ETH). Some altcoins could reach new highs.
Then the second wave of the bear market should begin.โ
Taking a closer look at Bitcoin, Capo shares a chart showing BTC falling to $38,000.
"Waiting for something like this for BTC."
At the time of writing, Bitcoin is trading at $41,114.
Although Capo is bearish on the cryptocurrency markets, says His 778,100 followers on social media platform X closed all of their shorts and are currently not exposed to cryptocurrencies.
โI know that these last few weeks/months, most people have increased the value of their portfolios and I am happy about that. For my part, I am simply being faithful to my analysis, always respecting the work of others and dedicating hundreds of hours to doing a macro analysis of the entire market while ignoring the noise.
tThe main idea remains the same. There are people who seem resentful that I am not exposed to the market, but it is my decision and I agree with it. โThere will always be opportunities.โ
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