A widely followed trader who has remained bearish on crypto markets this year despite the bounce is getting more confident on his calls for lower prices for several altcoins. The pseudonymous trader known as Capo tells his Telegram followers that when Bitcoin (BTC) breached the $25,000 level to the downside last week, it was the confirmation that his bearish outlook was correct. He then went on to share price targets for Ethereum (ETH), Polygon (MATIC) and Binance Coin (BNB).
Capo believes Ethereum will reach $750-$800, a level it hasn’t breached since May of last year. Moreover, he claims Polygon may drop to $1.50 and Binance Coin (BNB) could be trading close to $200, a level it hasn’t seen since the start of November.
The pseudonymous trader stayed bearish on crypto markets this year despite the recent price spike, therefore his outlook is worth paying attention to, and his followers do just that.
