Cryptocurrency analyst il Capo has made an unusual statement, expressing his bullish stance on altcoins despite the recent market decline. Known for his bearish views, il Capo’s surprising comments come at a time when both Bitcoin and altcoins have experienced a significant drop in value over the last 24 hours.
In a message to his followers, il Capo listed several reasons for his bullish outlook. He pointed to the prevailing negative sentiment in the market, while highlighting the continued strength of Bitcoin (BTC) and Ethereum (ETH). Additionally, he mentioned the recent S-1 approvals for Ethereum Spot ETFs, which are set to begin trading in the coming weeks, as well as the strong altcoin/BTC parity and its support level. He noted that there have been no negative developments to justify a bearish stance.
Furthermore, il Capo stated that he could not envision a bearish scenario under these circumstances. He also mentioned that BTC reaching the $65,500 level would be an extremely bullish event. As of the time of writing, the price of Bitcoin is at $65,132, having decreased by 2.2% in the last 24 hours.
It’s important to note that the views expressed by il Capo do not constitute investment advice. For those interested in investing in over 300 cryptocurrencies, it is possible to register with Binance exchange with a 20% commission discount from the provided link. For exclusive news, analytics, and on-chain data, readers are encouraged to follow the Telegram and Twitter accounts.
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