One of the popular analysts in the cryptocurrency world, the Capo of Crypto, spoke about the developments he expects in the cryptocurrency market from now on.
Some time ago, il Capo, who had an indefensible bearish stance, has recently changed his style and adopted more bullish thoughts.
In his latest statement, the famous figure thinks that the cryptocurrency market will see a volatile chart in the near future. According to the analyst, a rapid pump process led by Bitcoin may occur soon. However, il Capo believes that as fast as this pump process will be, the descent will also be fast, and this rise could serve as a bull trap.
According to the analyst, a bull trap of 5% to 10% increase could occur soon. il Capo believes that this will be followed by a shakeout drop of 20% to 40%. He argues that this drop will happen in the next few days and likely within this week.
The analyst believes interestingly that a legendary altcoin season will start after this decline.
Il Capo, speaking specifically for Ethereum, expects the ETH price to first rise above $3,000 and then experience a drop to $1,800. Following this, in what he describes as the legendary altcoin season, he predicts ETH to surpass the all-time high price level of $4,867 and then climb to $5,600.
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