A popular altcoin hasn’t even seen real gains yet, despite a recent 3x rally in less than a month, according to a closely watched cryptocurrency analyst, predicting that Binance Coin (BNB) will also Destined to hit an all-time high.
The pseudonymous analyst known as The Crypto Dog has told his 746,000 followers that he is bullish on GMX, a decentralized exchange (DEX) specializing in perpetual futures that aims to offer low swap fees and “zero Price Impact” transactions.
Crypto Dog has rallied over 200% despite having risen from $15 to over $45 in July Say The DEX’s utility token, GMX, is eager to move higher as prices trade around areas with little volume.
“Not many GMXs are trading above that. I think the empty space will pass here as a vacuum.
It was basically a year-long accumulation between $20 and $40. “
GMX “hasn’t started yet,” according to analysts travel.
In addition to GMX, the cryptocurrency analyst is bullish on Binance Coin (BNB), the native token of Binance, the world’s largest U.S. dollar digital asset exchange.
Analysts say both coins are “outliers” that are likely to remain bullish and resist Bitcoin’s decline.
“Seriously, though it’s good to just focus on outliers that are clearly more bullish than the rest of the market and sit back and watch.
If the supply of the coin is hoarded, it doesn’t matter if BTC goes down everywhere. “
Specifically, the dongle Say BNB is backed by Binance’s good reputation as a company and the character of the exchange’s CEO, Changpeng Zhao (CZ).
“It might feel weird to be heavy in BNB, but Binance has a proven track record of taking care of holders.
Since bottoming out, CZ has been openly bullish and bluntly financially piling up.
In my opinion, it is only a matter of time before the dollar reaches a new all-time high. I think this is reasonable. “
At the time of writing, GMX is trading at $41.17, while BNB is trading at $311.
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Featured image: Shutterstock/Vanessa SG/Natalia Siiatovskaia
