In 2022, Capo earned the reputation of a crypto prophet due to his accurate predictions regarding major cryptocurrency movements. However, he consistently identified the subsequent market recovery as a bull trap, leading to skepticism about his forecasts. Much like PlanB in 2021, when Capo’s predictions started to falter, he became a subject of mockery. Despite this, Capo is now boldly sharing new predictions.
Gold and Silver on the Rise
Five years ago, Capo foresaw the current trajectory of gold and silver, which are displaying a persistent bullish trend. Gold is experiencing its best period since the 1970s and continues to break records. The expectation of ongoing interest rate cuts in upcoming Fed meetings sustains interest in assets with limited supply.
The rise in gold is significantly supported by stable interest rate cuts by central banks outside the Fed. Moreover, the current growth in the M2 money supply suggests a continuation of this upward trend.
Capo recently commented that silver has confirmed its bullish trend, reaching new peaks around $50. Gold, too, at approximately $4050, is near its all-time high and not far from the $4500 target he mentioned when it was trading at $1500 in 2020.
Bitcoin and the Bull Trap Theory
In a tweet made on September 30, Capo mocked the “Uptober” narrative, suggesting it could turn into “Rektober.” However, October began with a strong bullish trend, with BTC reaching new record levels, along with BNB and other altcoins. Despite the super cycle predictions, Capo remains steadfast in his bull trap theory.
Capo reiterated his belief that one of the biggest bull traps in history could lead to one of the largest crashes. This sentiment has been echoed since the beginning of 2023, though Capo might once again be proven wrong.
With time narrowing, Capo has repeated multiple times that “one of the biggest bull traps in history could lead to one of the largest crashes.” Only time will tell if Capo’s dire predictions materialize.
