An analyst who accurately called the 2022 market collapse says a massive black swan event could crush altcoins ahead of the US election.
Writing to his 105,000 followers on his Telegram channel, pseudonymous crypto analyst Capo claims that OTHERS, which tracks the market capitalization of all crypto assets excluding stablecoins and the top 10 ranked coins, could be heading towards a massive drop during the elections.
Capo makes no predictions on what exactly the black swan event might be, but says it will likely be a prime buying opportunity.
“Quick update:
As mentioned earlier, several factors could trigger a “black swan” before the US elections. This would result in an average of 35%. decline for altcoins, meaning large caps could lose 25-35% and small caps could lose 40-60%.
Once again, this would be a very last upset before a true alternate season could begin. So if this happens, be prepared and don’t be afraid.
Be careful.”
In a more recent post on Telegram, Capo claims that the chances of such a scenario have now increased and that he is preparing by dumping some of his altcoin holdings.
“The odds of this scenario have just increased.
I sold a few altcoins to reduce my exposure to the market, even though I was already hedged.
If this scenario does not come true, there is no problem returning to the positions later. However, we cannot ignore the data: the market is currently showing significant weakness.”
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