Il Capo of Crypto, one of the most well-known analysts in the cryptocurrency world, evaluated the latest situation in the market in his statement.
According to the analyst, there are several factors that could trigger a “black swan” event in the cryptocurrency market ahead of the US Elections. According to the analyst, if such an event were to occur before the elections, altcoins could experience an average drop of 35%. This drop could be felt in magnitudes of 25% to 35% for large-cap cryptocurrencies and 40% to 60% for small-cap cryptocurrencies.
Despite such a pessimistic scenario, the analyst also expressed some positive views for cryptocurrency followers.
According to the analyst, such a bearish scenario could be recorded as the last decline for cryptocurrencies before the start of a real altcoin season. The analyst said that in case such a bearish scenario occurs, one should be ready and not be afraid.
Il Capo, who was once one of the most bearish crypto analysts, gave up his views after the last bull rally and announced that he invested in various altcoins.
*This is not investment advice.
