Popular crypto trader Capo is predicting a deep pullback for bitcoin in the coming month, leading to the ignition of an altcoin rally.
In a recent series of tweets, Capo said bitcoin’s dominance index is waning, giving an indication that altcoins are about to experience a rally.
Capo revealed he had 70% of his portfolio geared towards altcoins, with 25% of that invested in Ethereum. He claimed to have only 5% of his exposure in bitcoin.
In addition to ETH, Capo said he was following a handful of altcoins, noting their bullish outlook on the charts versus bitcoin.
Capo also pointed to the positive market impact of the U.S. Congress approving a $1.9 trillion stimulus package that will result in most Americans receiving roughly $1,400.
Capo went on to predict the current bull cycle would continue at least through the end of the year, noting the market would flip between bitcoin and altcoin dominance.
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