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Il Capo, one of the most well-known analysts in the cryptocurrency world, spoke after Bitcoin broke records one after another.
Il Capo, who was previously a hard bear analyst, has recently changed his tone and started making more bullish statements. However, in his latest analysis, he spoke before the Bitcoin price broke its latest records and said that he predicted that BTC would fall before the last rise. He also added that he completely exited the market due to this danger.
However, this was not the case and the BTC price rose above $93,000 with extraordinary momentum, breaking all-time high price records one after another.
The analyst, who remained silent for a long time after the rise, finally clarified the issue in his new statement.
il Capo said people often ask him how he stays calm after being wrong. The analyst said he doesn’t like to buy during these types of sharp uptrends, especially ones that are unplanned and emotional. He added that he usually buys short at support levels or test zones during downtrends, and that this tactic has worked for him.
He said he agreed that many people are making good money in the current situation, but he remains cautious and does not currently have any exposure to the market.
On the other hand, he urged people not to get caught up in FOMO and concluded his speech by saying that he was sticking to the plan.
*This is not investment advice.