Renowned analyst il Capo has issued a warning about the upcoming altcoin season in the cryptocurrency market. He believes that there are several factors that could potentially lead to a “black swan” event before the US Elections, resulting in a significant drop in altcoin prices. If this were to happen, il Capo predicts that altcoins could experience an average decline of 35%. Large-cap cryptocurrencies may see a drop of 25% to 35%, while small-cap cryptocurrencies could face a more severe decline of 40% to 60%.
Despite this bearish outlook, il Capo also offered some positive perspectives for cryptocurrency enthusiasts. He suggested that if such a scenario were to occur, it could mark the final decline before the start of a true altcoin season. il Capo, who was previously known for his bearish stance on cryptocurrencies, recently changed his views and disclosed that he has invested in various altcoins.
It is important to note that this information should not be considered as investment advice. However, if you are interested in investing in cryptocurrencies, you can register with Binance exchange and receive a 20% commission discount.
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