Bitcoin has been on a downward trend since mid-2021, causing concern among investors and analysts alike. However, it appears that the cryptocurrency has finally broken the $20,000 barrier and is holding steady at $27,000. While this news has generated excitement among investors, there are still conflicting opinions on the direction of the market.
One analyst who remains bearish on the market is ‘Capo,’ who accurately predicted the fall of Bitcoin when it sharply dropped in the past. Capo has been inactive on Twitter for over a month but has recently returned to provide an update on his analysis of the market.
According to Capo, despite the recent increase in Bitcoin’s price, altcoins have not followed suit and are still holding at major resistance levels. His analysis indicates that the recent rally of Bitcoin might be due to high price manipulation, particularly with BUSD and USDC. He remains bearish and fully out of the market, stating that new lows are still likely to happen.
Despite all the noise, I know that the vast majority of those who follow me are genuine and good people. And these deserve an update:
This time away from Twitter has been very good and necessary. I’m totally fine, enjoying my personal life. Thank you to everyone who has shown… https://t.co/ZEoe6xmDox
— il Capo Of Crypto (@CryptoCapo_) March 19, 2023
Capo’s analysis is not shared by all, as many investors are optimistic that the recent increase in Bitcoin’s price could signal the beginning of a bullish trend. However, Capo’s accurate analysis in the past suggests that his perspective should not be ignored.
The current state of the cryptocurrency market remains uncertain, with conflicting opinions on the direction it will take in the coming months. While some analysts are optimistic about Bitcoin’s recent increase in price, others like Capo remain cautious, warning of the potential for price manipulation and new lows.
Despite this uncertainty, the popularity and adoption of cryptocurrencies continue to grow, with many individuals and companies investing in digital assets. As more people enter the market, it will be interesting to see how the price of Bitcoin and other cryptocurrencies will evolve in the coming months.
In conclusion, while the recent increase in Bitcoin’s price has generated excitement among investors, the market remains uncertain, with conflicting opinions on its direction. Only time will tell whether Bitcoin’s recent increase in price is sustainable, or if Capo’s prediction of new lows will come true.
Read more:
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