A market analyst, who correctly predicted the collapse of 2022’s markets, says a black swan-like event may crush altcoins before the US elections.
Capo, a pseudonymous crypto-analyst, wrote to his Telegram subscribers, claiming that OTHERS (which tracks the total market capitalization of crypto assets excluding the stablecoins, and top 10 ranked currencies) could experience a major drop in value during the elections.
Capo does not make predictions about what the black-swan event will be, but believes it’ll be a great opportunity to buy.
“Quick update:
As we have already mentioned, there are several possible factors that could lead to a Black Swan event just before the US elections. The average would be 35%. Drops for altcoins could be 25-35% and 40-60 %.
This would also be the last test before an altseason can begin. If it does happen, be prepared and do not get afraid.
Stay Safe”
Capo said in a recent Telegram post that the chances of this scenario increasing and he is preparing for it by selling some of his altcoins.
Even if my hedge was sufficient, I sold altcoins in order to lower my risk.
It’s fine to reopen positions if this scenario does not play out. We can’t ignore data, the market shows significant weakness right now .”
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Image generated: midjourney
This article, Analyst Issues Altcoin Warning: Black Swan Event could Trigger “Very Last Shakeup” appeared first on the ICD.
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