The trader who predicted with efficiency and precision the crash of crypto-currencies during this year 2022 and a user relatively followed on Twitter. He took the opportunity recently to point out the cryptos he is bullish on and sees thriving in the coming months despite the current situation.
A trader who knows how to read the future
A trader by the name of CryptoCapo_ on Twitter successfully predicted the collapse of the cryptocurrencies during this year. It turns out that given the current situation his prediction is now reality which we face.
With more than 555,000 followers on the bluebird social network and with his ability to make predictions that happen, this trader obviously has influence, but also, we are entitled to wonder if he will be able to new see just for the months and years to come.
Thus, when the latter announces the crypto-currencies for which he issues a favorable opinion and wishes to invest in the long term, this makes you want to listen to him a minimum and to understand the logic behind their choices.
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His take on Bitcoin
For Capo, Bitcoin could go up slightly around $21,000 (the current price at the time of writing this article is $19,562, up 2.37% over the last 7 days). On the other hand, the resistance at the level of this value is very solid and at the same time the altcoins could pump temporarily which would make them more attractive than BTC.
The situation for Bitcoin according to this trader remains relatively bearish and the value of BTC could drop to around $14,000. It therefore invites you to take your winnings as soon as possible if such a situation occurs.
-Main trend is bearish and the main target for a potential local bottom is 14k.
-We shouldn’t expect an instant dump to this level, since current ltf PA is bullish.
-21k is a very strong resistance. Altcoins could have scam pumps during this BTC move. Lock profits.
— il Capo Of Crypto (@CryptoCapo_) October 17, 2022
Therefore, the future of Bitcoin in the short term seems strewn with pitfalls according to Capo. Of course, you will have to be patient and come to your own conclusions to define which strategy to adopt, but it is obvious that Bitcoin is having a difficult year following the collapse of the market, but also by external characteristics affecting it such as the inflation or The Merge highlighting the excessive energy consumption of Bitcoin with its Proof of Work mechanism.
Nevertheless, the accumulation of BTC by the whales in recent weeks suggests a potential next rise of this crypto. It remains to be determined whether this is temporary or much longer term to generate a new bullrun.
Ethereum (ETH) and Stellar Lumens (XLM) in the long term
For this famous trader, he intends to invest for the long term on Ethereum second on the market behind Bitcoin and Stellar Lumens, a Ripple competitor occupying the 25th place in the market according to CoinMarketCap.
Ethereum is trading currently at $1326 an increase of 3.30% over the last 7 days. It turns out that the current price for ETH is relatively low and it looks like a good opportunity to buy. In addition a rise in ETH is likely, because there are more and more addresses owning this altcoin which may increase demand and therefore drive up the price.
Additionally, Ethereum since The Merge is kind of a new crypto whose potential and novelties are yet to come. Indeed, The Merge has prepared the platform for the introduction of several upcoming updates that should greatly increase the scalability of the blockchain.
As a bonus, with its Proof of Stake mechanism, Ethereum’s energy consumption has relatively decreased by at least 99% making it a green crypto. The environmental cause is a point not to be overlooked. Cryptocurrencies are often singled out for this.
As for Stellar Lumens (XLM), this one trades at $0.1127 and it is the direct competitor of Ripple (XRP). Thus, it could also serve in the future as a corner connecting banking institutions and the crypto industry. There is no denying that banking and the traditional economic world in general needs to evolve and risks being a hybrid mixing cryptos in the future. XLM lends itself very well to this possibility.
Other altcoins to invest in for the long term
According to Capo, there are also other low market cap altcoins that he intends to invest in for the long term. It is Litentry (LIT) a decentralized blockchain for identification and verification, but also de Reserve Rights Token (RSR) which wants to facilitate the stability of its stablecoin Reserve Token (RSV).
— il Capo Of Crypto (@CryptoCapo_) October 17, 2022
Finally, the trader indicated that he also placed his money on STEPN (GMT) which is a Dapp based on social and gaming to conquer the Web3. This cryptocurrency is based on the Solana blockchain. The general novelty of the project is called the move to earn (earning money by moving), nevertheless according to the latest reports the hype seems to have dropped drastically.
However Capo seems confident in this project at the same level as RSR, LIT, ETH or even XLM. Will he be able to make another perfect prediction? Only the future will tell!
The bear market seems like a bad phase for investors to go through. However, not everyone thinks this is negative for the market. This is particularly the case of CZ, CEO of Binance who there see the positive.