Top crypto trader and analyst remains bullish on five altcoins in the near-term and even predicted last year’s biggest BTC crash so let’s see what he had to say about the coins in our latest altcoin news today.
The crypto market plunged this week and lost about $1 billion in value but the top crypto trader known as Capo, says he remained calm. Capo tried to explain to his 66,000 followers why he is bullish on BTC and the overall market:
“BTC. I don’t understand the panic. This has always been a possibility. Hidden bullish divergences are already there. Could it go a little lower ($50,000)? Of course, but the plan is exactly the same. I’M NOT SELLING…
Open interest down + price down DURING bull trends is bullish. Healthy retracements (shakeouts).”
The trader noted that BTC is testing $50K as support and expects the number one cryptocurrency to recover and pass the $80K level in the coming weeks:
“Funny thing is that we are testing $50,000 as support. Think about it… I’m not **** selling. Within a few weeks the price will pass $80,000, altcoins will fly, and you will regret having sold here.
The bounce will be epic. Bull market is not over. Remember these words.”
With the market preparing for a bounce, Capo is bullish on ETH, Syntropy’s NOIA, Phala Network-PHA, Reserve Rights-RSR and Paypolitan (EPAN). The trader believes that the second biggest asset by market cap is now in an accumulation phase and prepares for a new rally. As for RSP and EPAN, the trader noted that that the charts are on track for a bullish April that will send the tokens parabolic. Capo named NOIA as one of the main projects in the space, adding that the “bags are ready” to load up on PHA as well during the dip.
Reaccumulation tbh. pic.twitter.com/GSYyS8PRLn
— il Capo Of Ethereum (@CryptoCapo_) March 22, 2021
As recently reported, The optimism continues percolating in the crypto sector as the recent gains of BTC helped push the value above the South Korean won. The data from Tradingview shows that the price of BTC experienced a wave of selling in the early hours which pushed the price to a new low of $54,948 before the bulls were able to return the price and push it above $57,000. Regardless of the BTC price action, the institutional investors expressed their interest in BTC and Microstrategy even announced that it purchased another 262 BTC at an average price of $57,146 which is bringing the company’s total holdings to 91,326 BTC. The altcoins start to sell-off right as BTC dropped despite the investments made.