Cryptocurrency analyst il Capo of Crypto, known for his bearish views, talked about Bitcoin, which is showing signs of recovery, in his statement.
The analyst, who had previously stated that he expected a rise in the Bitcoin price before the decline, claimed that he expected $ 44,000 to $ 45,000 in the next stage, and that $ 50,000 could easily be seen in the next few days.
However, referring to the FED’s interest rate decision, which is the most important development of today, il Capo predicted that the policy change will take place next March.
The analyst also shared the development that, in his opinion, will push BTC to $50,000. According to il Capo, the main source of the next rally will be Harvest Hong Kong, one of China’s largest fund management companies, applying for a Bitcoin Spot ETF.
il Capo said that the ETF in question could be approved after February 10, the Chinese New Year, which could cause BTC to rise. However, the analyst claims that this event will be a “buy the rumor, sell the news” type of event, similar to the spot ETF approval in the US.
*This is not investment advice.