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Cryptocurrency markets are once again experiencing lively days. There is a sense of excitement among investors that has been ongoing for a while. This became apparent when the cryptocurrency Bitcoin passed the $52,000 mark. Ethereum, the leader of altcoins, is now starting to push the $2,800 level. The optimistic nature of investors could push cryptocurrencies to higher points. Analyst Crypto Capo explained what’s next after the recent rise. Let’s take a look at the analyst’s evaluations.
Crypto Capo Expects a Bitcoin Correction
Today, analyst Crypto Capo shared details about his current plan with his followers on his Telegram channel. The analyst emphasized his expectation of a critical level drop for the cryptocurrency Bitcoin. The level set by the analyst for the Bitcoin price is $45,000. Accordingly, the analyst expects a 15% drop for BTC.
On the other hand, Capo also expects significant drops for altcoins. According to the analyst, as Bitcoin retreats towards the $45,000 level, altcoins will experience drops of 10% to 15%.
What Will Happen Next?
According to analyst Crypto Capo, after the drop towards $45,000 in the Bitcoin price, a bounce will occur. In this case, BTC will form a lower peak in the range of $47,000 to $50,000. That is, the analyst expects an increase of about 10%.
For altcoins, the analyst believes that sharper jumps will occur. Accordingly, Capo suggests that altcoins will deviate from Bitcoin and reach higher levels. A point highlighted by the analyst here is noteworthy. The analyst specifically draws attention to cryptocurrencies with lower market values, indicating that they will show more significant increases than others.
Will There Be a Downturn?
Capo indicates that the final stage he mentions will show he is an investor taking a short position. The analyst expresses that this rise is the last one, emphasizing that all cryptocurrencies will reverse and fall sharply afterward.
The analyst will likely share that he will be taking a short position again during the last rise. This is because the analyst’s general evaluations feature as much emphasis on rises as they do on falls. Moreover, the analyst also provides information about the positions he takes.
