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As the likelihood of SEC approval of spot Bitcoin ETF applications increases, Bitcoin rose above $47,000 in reaction to this positive news.

This rise in BTC brought with it new statements by analyst Capo, who is known for his accurate predictions about the Bitcoin and cryptocurrency market in 2022. Capo of Crypto, known for his bearish views and criticized for his bearish comments, evaluated Bitcoin on Telegram.

According to the analyst, long positions have increased with this rise in Bitcoin and a decline is expected to clear these positions before ETF approval. İl Capo stated that he expects the price to fall to the range of $44,000-45,000 before ETF approval. However, he stated that there will be a rapid recovery with the ETF news and the price may rise to $ 48,000-50,000.

"It would not surprise me what will happen today or tomorrow. With the rise in Bitcoin, long positions have increased recently. At this point, I expect BTC to drop to the level of $ 44,000-45,000 first in order to liquidate these long positions. However, then, with the ETF news, BTC will see a rapid decline." "I expect a recovery and a rise to the $48,000-50,000 level."

#BitcoinDunyamiz


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