A popular crypto analyst, known as Capo, is warning of a potential market crash after a significant price surge. He believes Bitcoin, Ethereum, and other altcoins are being lured into a “bull trap.”
What is a Bull Trap?
A bull trap is when the market briefly rallies, giving the impression of a bullish trend reversal, only to plummet shortly after. Capo thinks this is exactly what’s about to happen.
Capo’s Predictions
Capo predicts a substantial, but temporary, price increase before the crash:
- Bitcoin: Could reach $100,000 before a sharp drop.
- Ethereum: A potential rise to $3,000, followed by a correction.
- Altcoins: A 10% to 50% increase, setting up for a significant downturn.
The Big Drop
Capo forecasts a 30% to 60% market correction after the bull trap. He suggests this could be triggered by an unexpected “black swan” event – a sudden, unpredictable crisis like the COVID-19 pandemic.
Bitcoin’s Trajectory
According to Capo’s chart, Bitcoin’s price could fall to around $69,000 after hitting $100,000. However, he anticipates a subsequent rise to a new all-time high of approximately $116,000.
Altcoin Season
Capo also anticipates a major “altcoin season” following the initial market crash.
Disclaimer: This is not financial advice. Investing in cryptocurrency is risky. Do your own research before making any investment decisions.
