There are a few cryptocurrency analysts who have been able to make a name for themselves for their predictions alone. While some are known specifically for analyzing the growth potential of a cryptocurrency, or seeing if a specific token is a Ponzi scheme.

However, some are good enough to predict when major cryptocurrencies like Bitcoin or Ethereum are going to crash or rise. And in this specific case, there is one crypto analyst by the name of Capo that really stands out.

They made a very accurate prediction about the price for Bitcoin falling, followed by their prediction coming true in a matter of days. They were responsible for helping multiple investors save millions, which makes them such a respected name in the community. So whenever they come back with a prediction, the entire community is there to listen.

Bitcoin is Rallying

While no one understands where this analyst gets their reports from, they always tend to be correct. So as far as the community is concerned, they can help the community save, or in this case make, a lot of money.

According to the most recent prediction that Capo gave out, they believe that Bitcoin is gearing up for a major rebound. Better yet, various other factors such as traditional stocks and the US Dollar Index will all be helping Bitcoin Rally.

They spread the news to their over 547,900 followers, which gives them one of the larger followings in the crypto space.

Bitcoin is still Stagnating

Bitcoin is still struggling to rally in the market, as the biggest cryptocurrency further slipped by 2.5% over the past day. And as the market in general is struggling to find firm footing, many are expecting that Bitcoin stagnating is just par for the course.

However, according to Capo, this is just a bear trap. With this slight slump, prices for Bitcoin will instantly jump, as he signaled when he referred to market conditions as a bear trap.

Capo has also made it clear that the LTF target for Bitcoin is still $21,000.

Why do they Believe it will Bounce?

One of the reasons that Capo believes that the market is about to bounce is because of investor sentiment surrounding Bitcoin. They mentioned that despite showing higher lows throughout the LTF, sentiment is very bearish, which means that a bounce is very likely.

They also believe that the improving XRP price is reinvigorating investor sentiment, which means that investors are becoming more trusting of the crypto market as well. Therefore, investors might come back and start investing in Bitcoin again.

Of course, it is also important to mention that the price for Bitcoin might not go any further than $21,000. But it will be the start of an even bigger bearish movement.