Prominent cryptocurrency analyst il Capo of Crypto claimed to have predicted yesterday's Bitcoin and altcoin crash and shared his new thoughts.
Addressing his followers, Il Capo argued that those listening to him were prepared for this decline. The analyst has long been predicting a bear market will initially prevail, despite Bitcoin's price breaking records.
In a statement today, il Capo stated that he doesn't believe the downward spiral is over. The analyst stated that a reassessment is necessary following the events, arguing that the Bitcoin price is still hovering above $100,000 and that the primary target is much lower.
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Despite the largest liquidation wave in the cryptocurrency market, the analyst claimed that the event he warned about has still not occurred. He stated that this event will occur on a global scale.
Sharing his thoughts on what might happen next, il Capo claimed that a period of consolidation could occur this weekend, but further declines could follow next week. He argued that what's happening is just the beginning.
*This is not investment advice.