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KOL Capo predicts a strong rally for Bitcoin, says Altcoins in preparation for a massive rally

A prominent analyst predicts a rapid rebound for Bitcoin (BTC) and says altcoins are positioning themselves for a spike.

Known in the industry by the pseudonym Capo, the individual told his 217,800 Twitter followers that Bitcoin is now facing a massive rally as the funding rate turns negative after the recent correction.

“BTC. Main script (Main scenario) more likely at the moment. ”

The source: Capo / Twitter

A negative funding rate occurs when many traders short Bitcoin or bet on a continuation of another correction, suggesting an overly bearish sentiment.

When Bitcoin recovers, BTC short traders are forced to close their positions and buy higher, resulting in a strong rally or short squeeze.

Capos speak added that a V-shaped rebound is likely as long as the funding rate remains negative.

The analyst also suggests that the latest BTC correction reflects the crash caused by Covid-19 in March 2020.

https://twitter.com/CryptoCapo_/status/1467614356456325126?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
Looking at altcoins, the crypto strategist says the OTHERS chart, which tracks the performance of the 125 most important digital assets excluding Bitcoin, is still trading on a parabolic trajectory.

“Altcoins. It’s not over yet.”

The source: Twitter / Capo

Looking at Capo’s chart, he predicts that the value of the 125 largest crypto assets excluding Bitcoin will rise to over $ 3 trillion by 2022.

Capo noted that he is currently “all-in-altcoins” and that he is closely monitoring coins that are recovering more quickly from the crash.

“These are the coins that will do better in the coming weeks.”

You can see the ETH price here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

SN_Nour

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.