Analyst Capo, who correctly predicted the 2022 crypto market collapse, stated that crypto assets will soon enter a period of sustainable rise. Capo stated on the social media platform X that the bull momentum in the cryptocurrency market will revive. However, he emphasized that a significant correction process must be experienced in order for this prediction to come true.
Pre-Rise Correction Process
Analyst Capo announced that there may be a decline of 5%-15% before his predictions come true. “The potential final 5%-15% of drilling could occur before the ‘bulk-only season’ begins,” Capo said. He also warned, “Just be careful not to get affected by the decline.”
Capo said that he created a hedge position suitable for the correction period he expected. Hedge is the strategy of investors to open new positions in order to offset the potential losses of their existing investments. With this method, it aims to protect against negative movements that may occur in the markets.
Prospects for Solana and Ethereum
Regarding Solana (SOL), Capo predicts that the crypto asset will first drop to the $220 level and then quickly climb to the new record high of $320. At the time of writing, SOL is trading at $269. Ethereum (ETH) $3,292.2 For , he stated that he expects the altcoin to rise to a new record level of $ 5,000 after retreating to the main support zone.
“What will this look like? Likewise, but adding potential final drilling, it will retest the $2,800-3,000 support level.”
According to Capo’s chart, he predicts that the altcoin bull will begin once Ethereum reaches a new record high.
Market Expectations
The analyst emphasized that Ethereum must reach a new record level for the altcoin season to begin. This expectation may be a harbinger of a general upward trend in crypto markets. Stating that the market should be prepared for these movements, Capo suggested that investors shape their strategies accordingly.
Capo’s analysis is considered a harbinger of a possible recovery process in crypto markets. It is thought that the expected correction period and the subsequent rise period may offer various opportunities for investors. However, it is emphasized that market dynamics are constantly changing and investors should be careful.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
