A popular crypto analyst is predicting a significant rebound for Bitcoin and other major cryptocurrencies after a recent market crash.
Market Crash and Analyst Prediction
The crypto market saw over $1.5 billion in liquidations in just 24 hours, mostly from leveraged long positions. Bitcoin fell to a three-month low. Despite this, the analyst, known as Capo, believes a strong rally is coming, driven by a short squeeze. A short squeeze happens when a price increase forces traders who bet against the asset (short sellers) to buy it back, pushing the price even higher.
Capo cautions that this rally might be temporary, followed by a further price drop before a final push to new all-time highs.
Bitcoin’s Predicted Path
Capo forecasts Bitcoin reaching $100,000 before potentially dropping to $80,000, setting the stage for a new all-time high. At the time of writing, Bitcoin was trading around $88,329.
Ethereum and Solana Forecasts
The analyst sees a similar pattern for Ethereum (ETH), predicting a rise to $3,000, a dip below $2,000, and then a surge to a new all-time high of $5,000. ETH was trading at $2,481 at the time of this prediction.
Solana (SOL), according to Capo, will rally to $185, drop to $120, and then climb to $310. SOL was trading at $143.93 when the prediction was made.
Disclaimer
Remember, this is just one analyst’s opinion. Cryptocurrency investments are risky, and you should always do your own research before investing. Any investment decisions are your own responsibility.
