A generally followed cryptocurrency analyst believes that Bitcoin (BTC), Ethereum (ETH) and Altcoins Bulls are being set up for a huge fall.
The analyst and trader Pseudonym known as Capo tells His 938,800 followers on the social media platform X that the cryptomarkt seems ready to possibly form a bullfall.
A bullfall is a false signal that indicates that the bearish trend is over, but then the price abruptly turns over and witnesses a deeper drawing.
According to the pseudonymous analyst, Bitcoin, Ethereum and Altcoins were able to reach between 10% and 50% of the current levels before a quick price reputation.
“Bitcoin up to $ 100,000 with a fast pump, Ethereum up to $ 3,000, altcoins 10% to 50% higher – Bull kick soon.”
Bitcoin acts at $ 89,290 at the time of writing, while Ethereum is worth $ 2,205.
Capo says that the bullfall would cause Bitcoin, Ethereum and Altcoins to correct by percentage points with double digits, possibly caused by a Black Swan event.
“30% to 60% decrease (the second shakeout, possibly black swan event) after the bullfall.”
A Black Swan is a rare and unexpected event that catalys a massive melting of the market. The last black swan that crushed the markets was the COVID-19 Pandemie.
Looking at the graph of the trader, he seems to predict that Bitcoin will hit $ 100,000 for the first time to abandon rejection and drops to around $ 69,000.
But after the huge dive he sees Bitcoin rise to a new highest point of around $ 116,000.
The widely followed analyst also says that an “epic” Altcoin season would follow the capitulation event.
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Generated image: midjourney