December 3, 2022

A closely watched cryptocurrency analyst says one of the hot cryptocurrencies hasn’t even seen a real rally yet, despite it having recently tripled in less than a month and predicting that Binance Coin (BNB) is also headed for new all-time highs.

The pseudonymous analyst, The Crypto Dog, tells his 746,000 followers that he is bullish on GMX, a decentralized exchange (DEX) that specializes in perpetual futures and aims to offer low swap fees and “no price impact” trading.

Although Crypto Dog actually rose more than 200% in July from the $15 range to over $45 Says That GMX, the DEX utility symbol, is eager to move higher with price trading near an area with a very small volume profile.

“Not much GMX has been traded above this price. I think empty space would be a void in the past here.

It was basically a year-round accrual of $20-40.”

Source: CoinGecko / The Crypto Dog / Twitter

According to the analyst, GMX has not “started” its operation a trip.

Besides GMX, the crypto analyst is also bullish on Binance Coin (BNB), the native token of Binance, the world’s largest digital asset exchange by US dollar volume.

Analyst says that both currencies are “extreme values” and are likely to remain bullish and resistant to Bitcoin’s declines.

“Although it is a good idea to just focus on the outliers which are clearly more bullish than the rest of the market and sit on them.

If the token is hoarded, it doesn’t really matter if BTC drops here and there.”

Specifically, the crypto dog Says BNB is backed by Binance’s solid reputation as a company and the personality of the exchange’s CEO, Changpeng Zhao (CZ).

“It may be strange to become a BNB heavyweight, but Man Binance has a proven track record of looking after its holders.

CZ has been publicly bullish since the bottom and has been outspoken about being hoarded.

In my opinion an all-time high against the US dollar is a matter of time. I think it’s reasonable.”

At the time of writing, GMX is trading at $41.17 while BNB is trading at $311.

Don’t miss out – sign up to get encrypted email alerts delivered straight to your inbox

Check price action

Follow us TwitterAnd the Facebook And the cable

Surf The Daily Hodl Mix

Check out the latest news headlines

& nbsp

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making any high-risk investments in bitcoin, cryptocurrencies, or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

Featured Image: Shutterstock / Vanessa SG / Natalia Siiatovskaia

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *