Famous Analyst Who Says This Altcoin Is On The Verge Of Collapse Warns Investors!

Bitcoin (BTC) and altcoins While leaving behind a bad year for the economy, some analysts say that the bottom is coming and it is a bullish signal, while some analysts think that more declines may come.

One of the bearish analysts is also popular cryptocurrency analyst Nicholas Merten it happened.

Nicholas Merten told his followers in the Youtube video he published yesterday. Binance Coin (BNB) He said that although it is in a better state compared to other altcoins, it is on the verge of collapse.

Stating that the FUD news about Binance was also effective in this collapse of BNB, Merten said, BNB said about it:

“Take a look at the monthly and weekly charts of BNB, one of the strongest players in the cryptocurrency market throughout 2021 and 2022, and you’ll realize it just looks awful.

BNB looks set to fall off a cliff on these charts. Higher lows and higher highs don’t have the potential to happen.

Because people are worried that BNB could potentially be listed as a security, which prevents it from being listed on many US exchanges.

I don’t know if most of the Binance FUDs are real or justified in any way. I don’t see a problem with withdrawing your money from exchanges.”

Also, with the stock market cryptocurrencies Pointing to the correlation between the two, Merten stated that there is a downward trend in the stock markets and warned of the possibility of putting pressure on crypto.

Merten investors, BTC and warned that the S&P 500, which has a tight correlation with cryptocurrency prices, is preparing for a potential 2008-style drop.

“The chart of the S&P 500 appears to be bringing with it not just a March 2020 crash, but potentially a 2008-style crash.

Maybe it won’t be as brutal as 2008. Maybe it won’t be as brutal as the dot.com bubble. But the charts at least tell us we’re going to suffer more.”

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