Analyst Capo, who has an accurate forecast reference of 76% and has also successfully predicted the latest crypto market drops, urged investors to be cautious that Bitcoin could catch another downtrend. Although BTC, the world’s first and leading cryptocurrency, managed to jump above $ 21 thousand in a few days after falling to $ 18 thousand, Capo argues that it is necessary to be careful.
“I am not making any purchases at the moment.”
In a post on Twitter, the famous analyst said that Bitcoin is not reliably anchored around $20,000 and that investors should not act on the information they read from untrustworthy sources. According to Capo, Bitcoin does not appear to be recovering or rising, as has been written and drawn on many social media sites. After these, the famous analyst stated that there might be hidden deviations in Bitcoin and that he had not started to buy yet. Famous analyst Capo thinks that the price levels of $16 thousand for Bitcoin can be seen in the future.
In addition, Capo added that any downside move in Bitcoin could affect all altcoins again. He also stated that if Bitcoin regresses to 16 thousand dollars, it will have seen the bottom and can rise again.
Could Capo Be Telling the Truth?
While the only thing that dozens of analysts say about Bitcoin, for now, is that it is preparing for a bull run, Capo‘s comments may not reflect the truth. Of course, there are other analysts who think like Capo, but right now, most experts expect a big jump in Bitcoin. Some analysts confuse caution with fear.
Cryptocurrencies have been trying to get out of the bear market lately, which is not a small move to ignore. Especially after the news spread that META will buy a metaverse-based cryptocurrency, serious upward movements occurred in Bitcoin and metaverse tokens.
What is the Latest Situation in Bitcoin Price?
Bitcoin has gained about 9% in the past week. According to CoinMarketCap data, the leading cryptocurrency currently trades at $21,346. The highest price (ATH) of Bitcoin is known as $ 68,789.63.
Although the leading cryptocurrency saw the lowest price tags of the last 18 months in June 2022, it started to show signs of recovery. BTC is currently moving around 21,400 levels.
Altcoin Prices Continue to Rise!
In the last few days, metaverse-based cryptocurrencies have gained a lot of value. Right after them, meme tokens come. Ranked #32 by market cap, Decentraland (MANA) has risen 18.57% in the last week and is currently trading at $0.9794. Right after MANA comes The Sandbox’s SAND, which was recently named META. SAND, which has seen a big break in the last seven days, has increased by about 46.29%. SAND currently costs $1.25. BAYC’s token, ApeCoin (APE), has closed the last seven days with an increase of 16.89%. The price level that APE is currently trading at is $4.96.
Dogecoin, the world’s first meme token, has also spent the last 1 week productively. DOGE is now trading at $0.07548, up 21.62%. The second-best meme token, Shiba Inu (SHIB), closed the week with an increase of 40.17% and is currently trading at $0.00001156.
