Market Overview and Analyst Predictions
Il Capo of Crypto, a prominent cryptocurrency analyst, has shared updated perspectives following a recent significant increase in Bitcoin's price. Bitcoin has experienced a surge of approximately 8% over the last three days, with its price currently trading around $97,000.
Despite the current upward momentum, the analyst suggests that a pullback from these levels is highly probable. However, il Capo emphasized that the primary price targets for both Bitcoin and Ethereum are expected to remain achievable even with a temporary correction. The analyst's main target for Bitcoin is set between $100,000 and $110,000. For Ethereum, the projected target range is between $3,700 and $4,000.
At the time of this report, Ethereum is trading at $3,359. Similar to Bitcoin, Ethereum has also seen an 8% price increase in the preceding three days.
Altcoin Performance Expectations
Furthermore, il Capo indicated that altcoins are expected to outperform both Bitcoin and Ethereum until their respective prices reach the predicted target levels. The analyst anticipates that altcoins will demonstrate strong performance leading up to the formation of a potential lower peak in Bitcoin and Ethereum.