It’s been just revealed that there is a popular analyst who said that an important altcoin has not even seen the real gains yet. Binance Coin is set to see new all-time highs.
An important analyst is bullish on GMX
The pseudonymous analyst who is known as The Crypto Dog said that he’s bullish on GMX. This is a decentralized exchange (DEX) specializing in perpetual futures and aims to provide low swap fees and “zero price impact” trading.
As the online publication the Daily Hodl notes, despite already rallying over 200% in July from the $15 range to over $45, the Crypto Dog said that GMX, the DEX’s utility token, is itching to move higher as price trades near an area with very little volume profile.
“Not much GMX has traded above this price. I think the empty space will act as a vacuum past here. Its basically been in year long accumulation between $20-$40.”
The analyst says both coins are “outliers” that will likely remain bullish and resistant to Bitcoin dips.
“Seriously though it is nice to just focus on outliers that are clearly more bullish than the rest of the market and sit on them.”
The analyst continued and said the following:
“If the supply of a token is being hoarded, it really doesn’t matter if BTC dips here and there.”
Ethereum new prediction is out
The former BitMEX CEO Arthur Hayes predicted a massive rally for Ethereum. He said that there would be a massive rally for Ethereum (ETH) if two possibilities aligned.
In a new blog post, Hayes explained that one catalyst that could ignite a strong rally for Ethereum is the success of its upcoming switch to a proof-of-stake (PoS) consensus mechanism. This is scheduled to launch in September.
The highly anticipated update will enable Ethereum’s mainnet to merge with its Beacon Chain, which already runs the POS system.
To learn more news about ETH’s price, check out the previous article.