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Cryptocurrency analyst il Capo of Crypto, who has been criticized for being too bearish, revealed his plan for the rest of 2023 and shared his big bearish forecast for the Avalanche (AVAX) altcoin.
il Capo claimed that the AVAX price would drop to $2.62 from its current level of $10.48.
The analyst explained his plan for the remaining months of 2023 simply: to tune out the noise and concentrate on his life and analysis. According to il Capo, this approach has been successful so far and its portfolio remains in the green through 2023.
The analyst said he was in profit on all his short positions (BNB, AAVE, WAVES, MATIC and SOL), except CRO, which was at breakeven, and TRX, which was in loss.
Despite numerous trends and a significant number of scams and hacks this year, only a select few made profits while the majority made losses. Il Capo attributes this to the fact that we are not yet in a bull market, but predicts that opportunities to make significant profits will arise.
The analyst believes that the major bearish move is taking longer than expected to occur. According to il Capo, someone is protecting prices until negative news affects the market and creates a domino effect. The analyst describes this situation as an opportunity to take a position in the market.
il Capo stated that patience is the key in this situation and said that he sees it as one of his strongest skills.
*This is not investment advice.