Cryptocurrency Trade: Bets on 2 Altcoins as Bitcoin Seeks Recovery

Bitcoin demonstrated a robust performance as it started the day surpassing the US$65,000 mark. This upward movement had a positive effect on altcoins, although a recent intervention by the SEC caused a pullback in Bitcoin, which fell back below US$64,000. At the time of publication, the price of BTC was quoted at US$63,464.12 with a drop of 0.5% in the last 24 hours.

Amid these fluctuations, the analyst known as Capo of Crypto, famous for his generally pessimistic predictions, surprised the community with an optimistic outlook. “The short-term correction appears to be over. We expect the increase to continue soon,” said the analyst, signaling a continuation of Bitcoin’s rally.

Capo of Crypto, in addition to his vision for Bitcoin, revealed his bets on the altcoin market. He specified having chosen ZCX and Solana (SOL) as the cryptocurrencies for a long position, purchased at lower value points. He openly shared these picks with the public, but chose to keep other altcoins with a market cap of less than $100 million secret, which he only shared with a close circle of friends to avoid influencing prices.

“When asked which altcoins I was buying, I disclosed some such as ZCX and SOL, but kept others, with lower market values, restricted to my friends. I don’t want to impact their prices positively,” Capo explained.

Furthermore, Capo was satisfied with the results of his choices, sharing an image of his long position in SOL, which was already generating profits.

This episode highlights Capo’s renewed confidence in the cryptocurrency market and his investment strategy, choosing altcoins with growth potential beyond immediate market fluctuations.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.