Cryptoanalyst calling for 2018 market lows for Altcoin to prepare for "significant bounce"

Cryptoanalyst calling for 2018 market lows for Altcoin to prepare for “significant bounce”

A top cryptocurrency strategy that has garnered a lot of followers on social media after accurately calling bitcoin the 2018 bear market bottom over $ 3,000 has pointed to Binance Coin ($ BNB) as a cryptocurrency that could face a “significant bounce”.

Known under a pseudonym, cryptocurrency analyst Smart Contracter said in a tweet shared by more than 200,000 followers that they were “surprised” by how well the BNB had endured the flagship cryptocurrency Bitcoin “in such a furious bear market.”

The analyst pointed out that the performance of the cryptocurrency was reminiscent of Ethereum’s performance in 2017, suggesting that the BNB may face a significant rally. According to them, the BNB will be one of their inputs as they begin to miss the market “with the intention that the bottom is in place”.

At the time of writing The purchase price for Binance Coin is $ 214 after losing 3.4% of their value in the last 24 hours. Over the past six months, the cryptocurrency has fallen from more than 500 to where it is in the midst of the wider cryptocurrency bear market.

Last week, the cryptocurrency strategist said both Bitcoin and Ethereum have gone through a surrender phase and are now trading in price ranges they believe will provide strong support for traders to take over.

Smart Contracter also retweeted another cryptocurrency analyst, saying the BNB is now on their radar because “it’s hard to imagine that this level won’t produce some significant bounce.”

It’s worth noting that Smart Contracter is famous for predicting in June 2018 that the bear market, which saw bitcoin prices fall from an all-time high of $ 20,000 at the time, would end in coin trading at $ 3,200. The forecast was almost accurate, as BTC reached its target in December of the same year.

The analyst also compiled a list of developments that they say show that the base may already be inside. These include Google searches for “Bitcoin dead” reaching new highs, the cryptocurrency Fear and Greed index falling to six and the hedge fund’s Three Arrows Capital losses.

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h/t – CryptoGlobe

Thomas Miles

Cryptocurrency is the most recently discovered currency which will be likely at the help of modernization across the next few decades. With a limited control from the government, the crypto market is independent of many features of a sound market as we know it. Thomas brings these stories to us by weaving them into articles of general importance to all those looking at the fluctuations in the market, or new entries. Thomas is also the founder of Bulletin Bits and is an excellent leader. His leadership is the kind that makes him the most knowledgeable and experienced on the team. His wonderful work ethic and attitude are worthy of imitation!

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