Bitcoin Bear Addresses The Crypto State

An important Bitcoin bear has just addressed the crypto state. Check out the issue that he recently revealed below.

At the moment of writing this article, BTC is trading just a bit below $30k.

A high-profile trader who has remained bearish on Bitcoin (BTC) throughout its 2023 rally is breaking his silence after the crypto king’s furious ascent above $30,000.

The psuedonymous analyst Capo made sure to explain the fact that Bitcoin’s recent breakout to $30,000 does not necessarily indicate that BTC has exited its long-term bear trend.

Capo is reiterating his months-long bearish outlook, and says there are more reasons to be negative than positive on what’s next for BTC.

“Congratulations to the bulls that were respectful and were calling for $30,000. My bearish scenario is NOT invalidated yet.

After hours and hours of deep analysis and research, I still see many reasons to be bearish, much more than to be bullish. I’ve already explained here some, and would fully explain the reasoning with all the best intention, as I always do. But I’ve lost the motivation to do so.”

It’s also important to note the fact that he’s bearish on BTC, Capo says he’s focused on betting against other large-cap altcoins, including the smart contract protocol Solana (SOL).

“I’ve repeated many times that I’m short on BNB and TRX (now also SOL and AAVE), and I keep adding to the shorts. Find a tweet where I said that I shorted BTC. You won’t find it.”

US presidential candidate Robert F. Kennedy Jr. thinks Bitcoin (BTC) and other cryptos can help the public escape a financial system he calls “a bubble.”

Kennedy, who recently announced that he is running in the 2024 presidential campaign as a Democrat, accused the Biden Administration of launching “hostile broadsides” against cryptocurrencies.

“Between 2008-22, the Fed partnered with a handful of big banks to print $10 trillion — ten centuries of wealth in 15 years — a bonanza for the Banksters.”