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 Coin (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 in its Ethereum pair (LINK/ETH). Cowen...
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