A crypto strategist who made the counterintuitive and correct call of a major Bitcoin pullback earlier this year is back with a new set of provocative predictions.
The pseudonymous analyst Capo tells his crew of 17,000 on Twitter that he expects Bitcoin’s explosive volatility to continue, with BTC sinking back down to the $11,000 range in the short term. After that, he expects altcoins to have room for another big move to the upside.
First le pump, then le dump. pic.twitter.com/G5AqiRBJrP
— il Capo Of Crypto (@CryptoCapo_) August 17, 2020
One altcoin on the trader’s list is Ethereum.
He expects the second-largest cryptocurrency to nosedive to around $360 before resuming its ascent and climbing above $470.
The analyst is also looking at XRP.
He sees the third-largest cryptocurrency surging above $0.70, representing an increase of over 130% from its current price of $0.30.
As for low-cap coins, the strategist is keeping an eye on Constellation (DAG).
He expects its BTC base pair to follow the footsteps of VeChain (VET/BTC) and possibly pull off a massive rally of over 900%.
Capo is also bullish on the small-cap crypto Telcoin (TEL). He says that the recent price action of TEL/BTC indicates upside potential.
“Reclaim of a key level and test as support. Bullish.”
In January, when Bitcoin was bullish and threatening to take out key resistance of $10,000, the analyst made a daring call and said he expected BTC to carve a bottom at $4,500.
His target was hit in March, as the leading cryptocurrency plunged to $3,850 at the height of the coronavirus-induced sell-off.