A cryptocurrency analyst known as Capo has shared his forecast regarding the future of Bitcoin, Ethereum, and altcoins. He suggested that the market is forming a bull trap which could soon lead to a downturn.
Analysis of the Current Situation
Capo suggested that Bitcoin prices could reach $100,000, while Ethereum may rise to $3,000. Altcoins, in turn, could increase by 10-50% before the next correction happens.
Forecast: Market Correction
According to Capo, after the anticipated rise, the market might drop, with Bitcoin, Ethereum, and altcoins potentially decreasing by 30-60% due to the second round of market shakeout or an unforeseen 'black swan' event.
The Future of Bitcoin and Altcoins
Despite the predicted fall to $69,000, Capo remains optimistic, believing Bitcoin could rise to $116,000. He also forecasts an altcoin season following future market shakeouts.
Capo believes the cryptocurrency market is awaiting changes, with significant price movements for Bitcoin and altcoins expected in the near future.
