Crypto markets have been going through a tough period for almost 2 years now. Especially altcoins have suffered significant losses. Some even set new all-time low levels during the downturn. A world-renowned analyst who accurately predicted many of these downturns shared his latest market predictions a few hours ago.
The Best Crypto Analyst’s Commentary
If we look at the past year, Capo could be ranked high for accurately predicting many major downturns. Especially during the extreme selling period at the end of 2022, Capo almost saw the future. We witnessed the price drop to the targeted $15,500, even though he was expecting a bigger selling wave down to $12,000.
In the first quarter, while BTC was recovering, he announced that he was opening short positions on altcoins at higher levels. At that time, everyone started mocking him. It was similar to the mockery of PlanB at the beginning of 2022. The only difference was that they made wrong predictions in different directions. While PlanB was ridiculed for not reaching the $100,000 target, Capo became the subject of ridicule due to his $12,000 target.
However, over time, Capo proved himself right, especially in many altcoins. While BTC did not reach its target, he made significant profits from his short positions on altcoins such as BNB, AVAX, and MATIC.
Current Expert Commentary on Cryptocurrencies
So, what does he think today? The master crypto analyst has not changed his mind about the continuation of the downturn. He has achieved significant gains by holding his short positions during previous bull runs. In his latest market assessment, he said the following about BTC:
“Finally, my short-term prediction, which I thought was invalid, has been completed. The fake rally seems to be almost over. The next range should be between $19,000 and $20,000. Then, we should see a short-term bounce and then the final capitulation leg down to $12,000.”
The chart he shared for AAVE shows a drop to $25.94 after reaching a peak of $81.
Today, futures ETFs will start trading, and the BTC price is above $28,300 at the time of writing.
