Altcoin Supercycle Is Here, Nicholas Merten Says | CryptoGazette
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The predicitons about some of the prices of altcoins continue these days amidst the market correction.
It’s been reported that a very popular analyst says that a supercycle for altcoins is here. He is also checking out some altcoins that he says are worthwhile analyzing.
Nicholas Merten drops new altcoin analysis
Nicholas Merten says that while king crypto Bitcoin (BTC) may seem a bit stagnant, the enthusiasm for altcoin projects is likely to increase in a big way.
“My biggest focus here is that as we go further into the bull market, as we see in all bull markets in every single type of financial asset, such as stocks and commodities and forex markets, and specifically in a very creative and fast-paced environment like crypto, we are going to see more liquidity, more capital and more excitement go onto altcoin valuations…”
He also said:
“No matter where Bitcoin goes, altcoins are the focal point here.”
He addresses the DeFi platform Aave (AAVE) which has seen a 63% rally against Bitcoin (AAVE/BTC) over the past 12 days.
“A major breakout in the sense of price here. And revisiting levels we haven’t seen as far back here as October 7th and the previous lows [0.005727 BTC] in June of 2021.”
He continued and said:
“If we can clear through this range… that’s going to set the foundation for AAVE to probably have another seismic rally, the likes of which we saw back here in January as well as May of 2021.”
He also talked about the price of Uniswap (UNI), which he notes is also rallying nicely against BTC.
The analyst said that UNI has the foundation to continue on for another breakout higher.
The crypto analyst also examined Yearn.Finance.
“One of the fair-launch protocols in the crypto space, up 62%… just in the past 12 trading days.”
Stay tuned for more crypto news.
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