Well-known cryptocurrency analyst il Capo of Crypto spoke about the possibility of a decline in the Bitcoin and altcoin market in his latest published analysis. In his analysis shared with his followers, il Capo claimed that a bearish confirmation is still required for the Bitcoin price and that if the BTC price falls below $ 108,000, a local top may have formed in the market, which could trigger the first decline towards $ 60,000 to $ 70,000 as the main support. Related News: What to Expect for Ethereum (ETH) Price After the Record? Analyst Predicts Target for ETH and When the Bear Market Will Begin At the time of writing, Bitcoin is trading around $114,800. The world's largest cryptocurrency has lost 2.54% of its value in the past week. However, BTC broke its all-time high of $124,450 about 10 days ago. In his latest post, analyst il Capo claimed that such a drop in Bitcoin's price could trigger a capitulation event that could result in a 50% to 80% loss in altcoin value. Il Capo has long held a bearish outlook, but since his recent analysis, the BTC price has broken multiple records. *This is not investment advice. Continue Reading: Experienced Analyst il Capo Predicts What Will Happen to Bitcoin and Altcoins Following Recent Developments
