Pa Daily Hodl - 1 ane de sa - Tan Lekti: 2 minit
Binance Coin and Chainlink Trends Worth Watching in Bear Market, According to Crypto Analyst Benjamin Cowen
Closely followed crypto analyst Benjamin Cowen says that if digital assets enter a longer-term bear market, two altcoins may be worth keeping an eye on.
In a new strategy session, Cowen says that in current market conditions, altcoins are “very risky” and only Bitcoin (BTC) and stablecoins are worthy of holding until the climate changes.
However, Cowen says there are two trends worth watching. He first mentions Binance Pyès monnen (BNB), the utility token of global crypto exchange Binance.
“To give you two altcoin examples, I think it’s worth watching two trends. There’s the BNB/BTC valuation, which I think has been going up recently. It also went up after the lower low in 2018 as well so I’m kind of looking to see the BNB/BTC valuation maybe hit a local top here in the next few weeks.”
At time of writing, BNB/BTC is changing hands for 0.01 BTC ($290), 20% lower than its all-time high around 0.012 BTC or ($348.18).
Next up is oracle provider chainlink nan li yo Ethereom pair (LINK/ETH). Cowen notes that LINK/ETH was a great performer during the bear market from mid-2018 all the way to August of 2020.
“There’s also the LINK/ETH valuation which is interesting. This is one that I’ve sat on, it’s gotten wrecked to no end, but it did actually do well against Ether in the last bear market, and it was actually upon Bitcoin’s rally to the 200-day (moving average). So Bitcoin rallied back to the 200-day [moving average] in 2018 after the lower low.
Ether didn’t go anywhere, but then LINK went up, and then LINK/ETH rallied or the next two years after that, and it kept going up.”
Cowen says that if traders are patient, they will likely end up having an opportunity to get in on the “accumulation phase of a lifetime” in crypto markets.
I
tcheke Aksyon PriDon't Miss a Beat - Ban-m pran abònman yo ka resevwa kouryèll alèt imèl lage dirèkteman nan bwat resepsyon ou
Swiv nou sou Twitter, Facebook ak Telegram
Navige Chak jou Hodl Mix la
Tcheke Tit dènye nouvèl la
Limit responsabilite nou: Opinyon ki eksprime nan chak jou Hodl la se pa konsèy envestisman. Envestisè yo ta dwe fè dilijans yo anvan yo fè nenpòt ki envestisman ki gen gwo risk nan Bitcoin, cryptocurrency oswa byen dijital. Tanpri dwe avize ke transfè ou ak echanj yo se sou pwòp risk ou, ak nenpòt ki pèdi ou ka antrene yo responsablite ou. Hodl chak jou pa rekòmande pou achte oswa vann nenpòt kriptoksèr oswa byen dijital, ni se chak jou Hodl yon konseye envestisman. Tanpri sonje ke Hodl chak jou patisipe nan maketing afilye.
Anons Spesyal: Shutterstock / PHOTOCREO Michal Bednarek
Post a Binance Coin and Chainlink Trends Worth Watching in Bear Market, According to Crypto Analyst Benjamin Cowen parèt premye sou Chak jou Hodl la.
Sous orijinal: Chak jou Hodl la