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.
“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.
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.