Trader Suggests Market Rally Is ‘Built on Sand’ As Top Analysts Spar Over Crypto’s Next Big Move
The back-and-forth began when pseudonymous analyst Pentoshi shared a crypto market cap graph with his 683,300 Twitter followers.
“Crypto Total market cap BTC, ETH + ALTS
I still can’t get over how clean this has been
21′ lows have capped off upside for almost the past year
2017′ (prev bull market highs) have marked the lows of the bear market”
The total crypto market cap measures the total value in the crypto markets, from Bitcoin to Ethereum to all the other altcoins.
In response, pseudonymous analyst Capo commented on the post, suggesting the charts indicate the total crypto market cap is about to fall off a cliff.
Capo’s graph prompted Pentoshi to respond, indicating that he disagrees with Capo’s prediction.
“If this actually happens I’d probably bring back all the profits I took out of this market and wouldn’t hesitate.”
Capo has maintained for months that the crypto markets are due for an epic crash. Recently, he shared this BTC graph with his 737,100 Twitter followers, predicting a major downfall for the king crypto in April.
When one follower suggested Capo was just trolling, Capo answered that he was not.
“Not really. It’s what I truly think, but with a touch of humor. What makes people bullish and confident is the price action but they don’t stop to think beyond that. The macro is what it is, and keeps getting worse.
Markets rise, a false rebound,
Built on sand, unstable ground.”
BTC is worth $28,492 at time of writing, up 0.05% in the last 24 hours.
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