A pseudonymous crypto trader who nailed this year’s Bitcoin crash is predicting a short rally for BTC, Stellar (XLM), and Litecoin (LTC) before the downtrend resumes.
capo To tell His 549,100 Twitter followers are hoping these digital assets will come together for the release of the Consumer Price Index (CPI) report scheduled for Thursday.
Capo says BTC could rise to $21,000, but predicts a collapse after the report’s publication.
“No update = no change… We will reassess later, but hope the market picks up before the next CPI data. BTC could be at $21,000 before new lows.”
Traders are paying close attention to the CPI report as it provides insight as to whether the Federal Reserve will continue to raise rates.
At the time of writing, BTC is trading at $19,044, down more than 2% on the day.
Capo also has its radar fixed on XLM, a crypto asset designed to act as a bridge between two fiat currencies when sending money abroad. According to the analyst, he expects XLM to rise to $0.167 before losing about 50% of its value.
“XLM Long Update.
Prices are starting to move. ”
At the time of writing, XLM is valued at $0.122, down 4.20% on the day.
Next up is peer-to-peer payment network Litecoin, which Capo sees rising more than 12% toward its target of $58.
“Ltd”
Litecoin is trading at $51.77 at the time of writing, down more than 4% over the past day.
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