A widely followed crypto analyst says a major sell-off event is on the horizon for altcoins, but notes that leading smart contract platform Ethereum (ETH) may be safe.
In a new strategy session, DataDash host Nicholas Merten tells his 511,000 YouTube subscribers that altcoins look primed for a sustained corrective move.
“Not only are altcoins at the moment looking like they’re ready for a continued pullback, we’re doing our due diligence, we’re trying to find the projects we’re interested in but at the same time, I’m going to be honest with you guys, I do see the market continuing to correct.”
Looking at Binance Coin (BNB), the native token of crypto exchange Binance and currently the fifth-ranked digital asset, Merten says its price action could reveal what’s next for the altcoin market at large.
According to the crypto trader, BNB could witness a deep correction if it fails to hold the $30 billion level in terms of market cap.
“We are basically trying to determine
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