A popular Bitcoin trader and analyst known as Capo of Crypto has come up again with a prediction of a massive Bitcoin recovery and boost after successfully predicting the recent crypto collapse last year.
Capo’s Prediction
His prediction about the collapse in 2020 caught the attention of many, practically stamping a VIP Tag on himself. Now, he predicts Bitcoin value to rise to an all-time high in the coming weeks, which is also coincidently expected to occur in the month of March. The trader thinks that the recent massive decline in Bitcoin value is actually a good sign, indicating a confident recovery.
According to Capo’s analysis, there are a number of indications that lead to the future boom in the value of the cryptocurrency. His stat charts show that both Bitcoin and Ethereum have started showing concealed bullish divergences between the asset RSI and price on the high timeframes, predicting Bitcoin to close above $57,000 in the coming weeks.
As more and more whales are buying huge amounts of Bitcoin and Ethereum, Capo suggests that these massive crypto holders are building new foundations for the next phase. This suggestion can be justified very easily. Crypto Behemoth, Grayscale went absolutely crazy and purchased $709,000,000 worth of Bitcoin and Ethereum in February alone, reaching a monstrous value of $35 Billion. In addition to that, tweets by analyst Ki-Young Ju reported that 13,000 Bitcoin were purchased by institutional investors in just a couple of hours at $48,000 per bitcoin. That is the strongest bullish signal I’ve ever seen, said Ki Youn Ju on Twitter.
Also read:Capo Just Might Be Right This Time
The evidence, reports, and analytics that Capo has presented definitely show some sort of bullish tendencies for both Bitcoin and Ethereum. Observing all these massive transactions and trading trends, Capo is confident that the leading cryptocurrency might reach an all-time high of $80,000 by the end of March, which is an absolutely huge and strong claim to make, but it seems that this might eventually be inevitable as the Coinbase outflows are definitely rising at a massive rate displaying crazy numbers every single day.
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