Trader Suggests Market Rally Is ‘Built on Sand’ As Top Analysts Spar Over Crypto’s Next Big Move

Two widely followed analysts are disagreeing about the crypto market’s next big move as Bitcoin (BTC) and Ethereum (ETH) trade sideways.

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”

Source: Pentoshi/Twitter

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.

Source: Pentoshi/Twitter

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.

“Capriltulation.”

Source: Pentoshi/Twitter

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.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Aleksandr Kukharskiy/Fotomay

Leave a Reply

Your email address will not be published. Required fields are marked *