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Crypto Bear Doubles Down Again, Goes Short on Polygon (MATIC), Solana (SOL), Aave and More
A popular crypto trader who has remained bearish on the digital asset markets this year is doubling down on his predictions and adding more to his short position on one large-cap token.
The pseudonymous trader Capo xelela his 64,703 Telegram subscribers that he’s adding to his existing short on Polygon (UMATIKII-Ethereum (ETH) scaling solution.
MATIC is trading at around $0.903 at time of writing. The 11th-ranked crypto asset by market cap is down 0.55% in the past 24 hours.
Capo notes that his current positioning is 65% in the US dollar and 35% in mid-term short positions.
Besides MATIC, he’s also shorting Binance Ingqekembe (BNB), the utility token of the BNB Smart Chain, the lending and borrowing decentralized finance (DeFi) protocol Aave (I-AAVE), decentralized storage and distribution platform Tron (TRX), and the Ethereum competitor Solana (SOL).
Earlier this month, the trader qi kelelwa Bitcoin (BTC) was destined to plummet to $12,000, while ETH could crash by well over 70%. He argues that the bear market hasn’t ended yet and BTC’s recent rally from $15,700 to $30,000 was nothing more than a retracement, which has now come to an end.
Capo is known in crypto circles for ukuqikelela ngokuchanekileyo last May that Bitcoin would continue to plunge lower.
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