A well-known crypto analyst, who correctly predicted the 2022 market crash, is warning that a major unexpected event could send altcoins plummeting before the US election.
Black Swan Event Could Trigger Altcoin Bloodbath
The analyst, known as Capo, believes that a “black swan” event – an unpredictable and impactful event – could cause a significant drop in the value of altcoins, especially those outside the top 10. He predicts that the event could lead to a 35% average drop in altcoin prices, with larger coins potentially falling by 25-35% and smaller coins by 40-60%.
While Capo doesn’t specify what this black swan event might be, he believes it could present a great buying opportunity for investors.
Analyst Reducing Altcoin Exposure
Capo recently shared on his Telegram channel that the odds of this scenario happening have increased. He’s already started reducing his own altcoin holdings as a precaution.
He acknowledges that if the event doesn’t happen, he can easily buy back in later. However, he emphasizes that the current market weakness cannot be ignored.
What to Do?
While this is just one analyst’s opinion, it’s a good reminder that the crypto market can be volatile. If you’re investing in altcoins, it’s important to be aware of the risks and have a plan for managing your portfolio.
Remember, this is not financial advice. Always do your own research before making any investment decisions.
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