After Bitcoin Breaches $50,000, Major Bearish Analyst il Capo of Crypto Reveals New Insights

Il Capo of Crypto, one of the most followed analysts in the cryptocurrency world, published a new statement as Bitcoin surpassed $ 50,000 after a truly impressive rally.

In his previous statements, il Capo said that his short-term goal was 50,000 dollars. In his update, he stated that, as he said, $50,000 was reached and that his bullish optimism was valid up to 50,000.

The analyst said that he expects Bitcoin to see a rejection at the $ 50,000 level and that altcoins will pump in the meantime, causing a divergence. The analyst declared that he expected a decline in both BTC and the rest of the cryptocurrency market after the rise of altcoins.

In his previous statements, il Capo said that his ultimate target for Bitcoin was $ 12,000, but argued that $ 50,000 could be seen first with the start of the rise.

On the other hand, il Capo is often criticized by the crypto community for expecting a large-scale capitulation event to occur while the cryptocurrency market is on the rise.

*This is not investment advice.

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