Bitcoin (BTC) correctly predicted to fall below $30,000 in 2022 by an anonymous crypto analyst known as Capo, who also highlighted Polkadot (DOT) as a blue-chip altcoin with high upward potential. The analyst also shared his latest observations on Bitcoin.
Capo’s Commentary on Polkadot (DOT)
Addressing his followers on the social media platform X, Capo suggested that Polkadot’s DOT could rally significantly if it maintains a crucial support level at $6. If DOT stays above this support, it could rise up to 172% from current levels, potentially reaching between $15 and $17.
DOT is currently trading at $6.25, and Capo’s bullish thesis for the altcoin is supported by several factors. He mentioned significant changes made to enhance the network’s features and efficiency, referred to as Polkadot 2.0. Additionally, the deployment of parachains, integration with artificial intelligence projects like Phala Network (PHA), and appeal to Web3 game developers such as Mythical Games, which announced a switch from the Ethereum (ETH) network to the Polkadot network, are among the reasons Capo cited for his bullish stance.
Predicting a Rise for Bitcoin
Regarding Bitcoin, Capo noted that the largest cryptocurrency is in an interesting support region and could potentially form a base for an upward movement. He pointed out that there is strong demand in the $59,000 to $61,000 range and that most indicators are signaling a possible jump.
According to Capo, if Bitcoin surpasses the resistance level at $65,000, its first target could be the $68,000 to $69,000 range, and the second target could be between $74,000 and $75,000.
Capo’s views offer a glimpse into potential price movements for two significant cryptocurrencies, DOT and BTC. While Capo’s analysis underscores the importance of tracking key support and resistance levels in determining these assets’ future trajectories, investors should be aware that the analyst’s predictions are merely forecasts.
