The crypto market is making solid efforts to recover in prices following recent corrections.
There’s an important crypto analyst who is addressing the bottom prices for some of the most important coins, Bitcoin, Ethereum, Cardano, and Solana.
Bottoms for BTC, ETH, ADA, and SOL
The pseudonymous analyst known as Capo has just addressed the potential bottoms on BTC and ETH, plus smart contract platforms Solana (SOL) and Cardano (ADA).
— il Capo Of $NOIA (@CryptoCapo_) January 8, 2022
While analyzing Bitcoin, the analyst says that he’s expecting a scenario where BTC dives down slightly below $40,000 before bouncing sharply and reclaiming the $50,000 level again.
“Expecting something like this for the bottom formation Blue line is $40,000″
He also said when he’s buying the king coin.
“I’m buying between $40,000-$45,000. This is one of the best buying opportunities for this year, by far. Consolidation below $40,000 would prove me wrong.”
Regarding Cardano, Capo thinks ADA will continue dipping below current prices and end up around the $1.00 range before reversing its trend.
“ADA breaking support and going straight to the buy zone.”
At the moment of writing this article, BTC is trading in the green and the most important other coins as well.
BTC is priced just above $42k.
Bitcoin and Amazon comparison
The comparison between Bitcoin and the rise of Amazon is something that we’ve been seeing a lot in the crypto space.
Now, this is addressed once again by macro guru Raoul Pal. Check out what he has to say about the subject below.
He is looking at the historical price action of e-commerce titan Amazon and comparing it to the performance of Bitcoin (BTC) since 2013.
The former Goldman Sachs exec just said that Amazon (AMZN) adhered to Metcalfe’s Law, which states that a network grows in value as the number of users on the network gets bigger.