Analyst Predicts Possible 10-20% Drop in Bitcoin Price

Cryptocurrency expert il Capo of Crypto has revised his outlook in light of Bitcoin's recent downturn and the sluggishness in the broader market.

Previously known for his optimistic views, il Capo has acknowledged the current market’s lackluster performance.

He suggested that a “final pullback” of 10% to 20% is plausible, which could present an opportunity for buyers looking to acquire assets at lower prices.

The analyst predicts that if this scenario unfolds, Bitcoin might dip to a range of $48,000 to $50,000, while Ethereum could see a drop to approximately $2,000.

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Recent geopolitical tensions, particularly between Iran and Israel following a missile attack from Iran, have contributed to Bitcoin’s decline.

However, a report from BlackRock indicated that Bitcoin typically rebounds around 60 days after such geopolitical unrest.

Alexander Stefanov