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Second Wave of the Bear Market About To Begin, Says Analyst Who Nailed 2022 Crypto Collapse – Here’s His Outlook

December 13, 2023
in Altcoin
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An analyst who has remained bearish on the crypto after precisely calling the 2022 collapse thinks the markets are set to see a lot decrease costs.

Pseudonymous analyst Capo tells his 81,200 Telegram subscribers that he believes Bitcoin (BTC) and the remainder of the crypto markets are about to witness to resumption of the bear market.

However earlier than the subsequent leg down may happen, Capo predicts that Bitcoin, Ethereum (ETH) and a few altcoins may bear another burst to the upside.

“So the primary low time-frame thought is:

Pump from right here to type a decrease excessive (round $43,000-$44,000 for BTC, and $2,300-$2,400 for ETH). Some altcoins may make new highs.

Then the second wave of the bear market ought to start.” 

Trying nearer at Bitcoin, Capo shares a chart that reveals BTC dropping to so long as $38,000.

“Anticipating one thing like this for BTC.” 

Supply: Capo/Telegram

At time of writing, Bitcoin is buying and selling for $41,114.

Though Capo is bearish on the crypto markets, he tells his 778,100 followers on the social media platform X that he closed all of his shorts and is presently not uncovered to crypto.

“I do know that these final weeks/months, most individuals have elevated the worth of their portfolios and I’m blissful about it. In my opinion, I’m simply being devoted to my evaluation, at all times respecting the work of others and dedicating a whole bunch of hours to make a macro evaluation of the entire market whereas ignoring the noise.

The principle thought stays the identical. There are individuals who appear resentful that I’m not uncovered to the market, however it’s my determination and I’m good with it. There’ll at all times be alternatives.”

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Disclaimer: Opinions expressed at The Every day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any loses it’s possible you’ll incur are your accountability. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please word that The Every day Hodl participates in internet online affiliate marketing.

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Tags: AnalystBearcollapsecryptoHeresMarketNailedOutlookWave
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