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July 14, 2020

7 Crypto Assets Making Huge Moves As Bitcoin (BTC) and Ethereum (ETH) Prepare for Breakout, Says Analyst Nicholas Merten

By Daily Hodl Staff

Crypto analyst Nicholas Merten says the crypto markets are gaining momentum.

On a new episode of DataDash, Merten looks at digital assets in the 100-200 rank by market capitalization and points to a few that are making big moves.

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“The excitement’s happening. We’re seeing a lot of plays starting to make 10, 20, 30% moves in a single day, and this is the kind of sign here of a reversal pattern in cryptocurrency markets. Optimism starting to show… 

Request Network up 26.6%. Band Protocol, a competitor within the Oracle space, up nearly 18%. Ocean Protocol [up] 14%. Haven Protocol, another one that many people have been talking about, up 13.69%.

And also things like Theta Fuel, Elastos and Unibright all up in double-digit territory. So this is really exciting to see.”

Merten says Kava (KAVA), a decentralized financial services platform currently ranked 102nd by market cap, is one of his top three plays of the month. The asset, trading at $1.75 at time of writing, has surged since the beginning of July.

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Merten is also bullish on Bitcoin (BTC), predicting a sharp move to the upside for the crypto king and for Ethereum (ETH) “in the next month or so.”

“I really do think you’re going to see Bitcoin above $10,000, you’re going to see ETH above $300, and you’re going to see a ton of altcoins continue day by day in this case to continue making double-digit returns into the month of August.” 

Back in April, Merten said he believes $100,000 is a practical price target for Bitcoin’s next long-term cycle.

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