A widely followed trader who has remained bearish on crypto markets despite the rallies from the lows is issuing another warning on Bitcoin (BTC) and the digital asset sector.
Posting to his Telegram, the pseudonymous trader known as Capo says that he’s still expecting new market cycle lows for Bitcoin and altcoins.
Capo says that the bear market hasn’t ended yet, and that BTC’s rally from $15,700 to $30,000 was nothing more than a retracement, which has now come to an end.
Trending: Dozens Of Children Go Missing In Cleveland In Just Two Weeks In Disturbing Trend
He also says that the trend of memecoins going parabolic is a clear sign of a local top in crypto markets.
“The movement from the bottom of December 2022 is a correction. This movement is also called an internal retracement, bear market rally,
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!