An analyst who predicted the 2022 crypto collapse unveils a bullish outlook for Bitcoin and altcoins.
The crypto community is now buzzing with the latest insights from the analyst who accurately foretold the 2022 cryptocurrency market meltdown. This well-regarded pseudonymous analyst, known as Capo, has shared his predictions for Bitcoin (BTC) and altcoins, suggesting a bright future ahead. With confidence in his previous accurate forecasts, Capo continues to update his 102,828 followers on Telegram regarding current market trends.
Bitcoin’s Potential to Surge Post Minor Pullback
According to Capo, Bitcoin is poised for a significant upward movement, though not without a brief retracement first. He highlights a minor pullback that could provide the needed foundation for BTC to surpass $70,000. Capo stated, “Major resistance level also for Bitcoin. A pullback to the $64,000-$65,000 level would be healthy before bullish continuation.”
At this writing, Bitcoin stands at $64,370, reflecting a 2% decline over the past 24 hours. This slight decrease aligns with Capo’s predictions.
Optimistic View on Altcoins Market
Expanding his analysis to the altcoin market, Capo shows keen interest in the OTHERS chart, which monitors the market cap of all cryptocurrencies excluding the top ten digital assets and stablecoins. He projects a near-term retracement for OTHERS to around $220 billion, setting the stage for an eventual rise above $240 billion.
Capo explained, “After giving the first bullish confirmation by breaking the downtrend from March, it’s now testing the major pivot level as resistance. We could expect some retracement here as the market gets ready for October, which historically tends to be a bullish month. This short-term pullback would align with BTC testing $65,000 (or slightly lower) as support. With that said, and as mentioned before, any potential dips are for buying.”
From his analysis, Capo envisioned OTHERS achieving a market cap exceeding $270 billion after a concise correction. Currently, OTHERS trades at $228 billion.
Preparing for October’s Market Dynamics
Capo also provided his broader outlook for the crypto market as it approaches October. He foretells, “Expecting a bit of overall retracement/consolidation during these days, warming up for October. Great things coming.”
To stay updated with Capo’s latest insights and prepare for potential market shifts, keep a close watch on the market and adjust your strategies accordingly.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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