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In a daring transfer that defies the prevailing market sentiment, distinguished crypto dealer CryptoCapo has reaffirmed his bearish stance on the crypto markets and has expanded his quick positions on varied belongings.
With a fame for correct predictions, Capo’s newest transfer has captured the eye of the crypto neighborhood.
Capo’s Diversified Quick Positions
Capo, who maintains an lively presence on Telegram with over 64,000 subscribers, introduced that he’s including to his current quick place on Polygon (MATIC), an Ethereum scaling answer. The cryptocurrency is at present buying and selling at round $0.903, experiencing a marginal decline of 0.55% over the previous 24 hours. Positioned because the Eleventh-largest crypto asset by market capitalization, Polygon has attracted important consideration as a result of its potential for bettering scalability on the Ethereum community.
The dealer additionally revealed his intention to quick a number of different cryptocurrencies. Alongside MATIC, Capo is doubling down on Binance Coin (BNB), the utility token of the BNB Good Chain. Moreover, he plans to take quick positions on Aave (AAVE), decentralized finance (DeFi) protocol specializing in lending and borrowing, Tron (TRX), a platform providing decentralized storage and distribution, and Solana (SOL), a competitor to Ethereum.
Portfolio Composition: 65% USD, 35% Mid-term Shorts
Capo disclosed that his present portfolio allocation consists of 65% in US {dollars} and 35% in mid-term quick positions. This distribution signifies his sturdy conviction within the downtrend of the cryptocurrency market. Difficult the current bullish sentiment, Capo believes that the bear market is much from over, and any current rallies, similar to Bitcoin’s surge from $15,700 to $30,000, had been merely retracements which have now reached their finish.
Bear Market To Proceed?
Capo’s accuracy in predicting market actions has garnered consideration within the crypto circles. Notably, he accurately forecasted a downward pattern for Bitcoin again in Could. In consequence, his newest positions are being intently monitored by trade contributors who worth his insights.
Will Capo’s predictions show correct or will the markets defy him as soon as once more? Solely time will inform!
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