Popular crypto strategist Capo, who correctly predicted that Bitcoin (BTC) will surpass $30,000 last month, evaluated the price of BTC. The analyst suggested that even after BTC’s latest rally, it seems ready to capitulate. In this article, we also quoted the comments of two famous analysts.
Capo: “Bitcoin will drop to these levels”
The famous crypto analyst, using the nickname Capo, talked about the BTC price to his 335,700 Twitter followers. The analyst said that the leading cryptocurrency will make a new bottom after the bears gain support at $ 28,500.
“Clean range. In-range and high-range indicate that this is a clear redistribution range. A clear break of the lower range confirms the recent drop. The decrease in BTC will be to the level of $ 21,000-23,000.”
The crypto analyst stands behind his prediction even after Bitcoin managed to reclaim the key psychological price area of $30,000. The crypto strategist expects a sell-off event to begin after Bitcoin fails to break the $31,600 resistance. At the time of writing, BTC is changing hands at $31,030, up close to 6% from its 24-hour low of $29,314.
Inmortal: “BTC can rise to these levels”
Another popular crypto analyst, Inmortal is currently bullish on Bitcoin . As we report onKriptokoin.com , the pseudonymous crypto strategist told his 179,800 Twitter followers that he believes Bitcoin is forming an ascending triangle-shaped bottom. According to Inmortal, a move above BTC’s $32,000 triangle resistance will trigger a rally. A rally starting at this price represents an increase of about 20% from its current value.
“BTC consolidates below resistance while making higher lows. If the price of the coin can hold above $32,000, we may see the long-awaited relief rally.”
InvestAnswers: “These are the bottom levels for Bitcoin”
Finally, the famous analyst InvestAnswers also expressed his ideas about the leading crypto currency. The analyst told 440,000 YouTube subscribers that there is a limit to Bitcoin’s decline. The reason for this is that investors who missed the rallies in the past will receive BTC under $ 30 thousand.
“Normally when people anticipate too much doom and gloom, they are ready to take it from the bottom. We saw the stock market rally from $3,800 to $4,150 with the S&P 500 rally. We’ve seen tech stocks rebound. So, we also saw the split between winners and losers.”
According to the analyst, investors who cannot profit from BTC are ready to buy Bitcoin at $ 28 thousand and below. Therefore, the leading cryptocurrency will never see $25,000. Only a global catastrophe will cause it to reach this level. The InvestAnswers server concluded its analysis by suggesting that investors should only make a partial investment in BTC. It also warned of how the Federal Reserve’s rate hikes could negatively impact asset prices.
