A preferred crypto dealer who has remained bearish on the digital asset markets this 12 months is doubling down on his predictions and including extra to his brief place on one large-cap token.
The pseudonymous dealer Capo tells his 64,703 Telegram subscribers that he’s including to his present brief on Polygon (MATIC), an Ethereum (ETH) scaling answer.
MATIC is buying and selling at round $0.903 at time of writing. The Eleventh-ranked crypto asset by market cap is down 0.55% up to now 24 hours.
Capo notes that his present positioning is 65% within the US greenback and 35% in mid-term brief positions.
Moreover MATIC, he’s additionally shorting Binance Coin (BNB), the utility token of the BNB Good Chain, the lending and borrowing decentralized finance (DeFi) protocol Aave (AAVE), decentralized storage and distribution platform Tron (TRX), and the Ethereum competitor Solana (SOL).
Earlier this month, the dealer predicted Bitcoin (BTC) was destined to plummet to $12,000, whereas ETH might crash by nicely over 70%. He argues that the bear market hasn’t ended but and BTC’s current rally from $15,700 to $30,000 was nothing greater than a retracement, which has now come to an finish.
Capo is thought in crypto circles for correctly predicting final Could that Bitcoin would proceed to plunge decrease.
Do not Miss a Beat – Subscribe to get crypto electronic mail alerts delivered on to your inbox
Test Price Action
Comply with us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Day by day Hodl aren’t funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual danger, and any loses chances are you’ll incur are your duty. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please notice that The Day by day Hodl participates in internet affiliate marketing.
Generated Picture: Midjourney
