An analyst who accurately predicted a market crash in 2022 says a major black swan event could crush altcoins ahead of the US election.
Anonymous cryptocurrency analyst Capo wrote to his 105,000 subscribers on his Telegram channel that OTHERS, which tracks the market capitalization of all cryptocurrency assets excluding stablecoins and top 10 coins, could see a huge decline during the election. said.
Capo wouldn’t predict exactly what the black swan event would be, but said it would be an optimal buying opportunity.
“Quick update:
As mentioned earlier, a number of factors can cause a black swan event before the US election. This results in an average of 35%. This means that large-cap stocks can fall 25-35%, and small-cap stocks can fall 40-60%.
Once again, this will be the last revamp before the actual Alt Season begins. So, if something like that happens, be prepared and don’t panic.
Stay safe.”
In a recent post on Telegram, Capo said that the likelihood of such a scenario has now increased and that he is preparing by shedding some of his altcoin holdings.
“The odds of this scenario have just increased.
Even though they were already covered by hedges, they sold some altcoins to reduce their market exposure.
If this scenario does not play out, there will be no problem re-entering the location at a later date. But we cannot ignore data. “The market is currently showing considerable weakness.”
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