Today I would like to discuss with you the
BMEX
token, the exchange traded token of the OG exchange Bitmex, co-founded by Arthur Hayes.
Bitmex has a reputation of massive manipulation on their exchange, together with a CEO who has a big following on social media, therefore I think this will be the next x10. The current market cap is only $24,1 million dollars. Monthly burnings are based on the total volume times a certain percentage of the fee. With Bitcoin at ATH and the others following this burning mechanism is also at an All Time High.
Crypto will keep luring new people in the coming weeks/months meaning also BitMex might see a user-inflow. Therefore we have a good reason to assume BMEX will follow these highs, also considering these catalysts and the closing of this massive falling wedge.
Technical part:
- Massive falling wedge
- RSI becoming stronger compared to the price
- BMEX/BTC massively oversold, and almost touching the trend line
This is not financial advice, always do your own research.
BMEX
token, the exchange traded token of the OG exchange Bitmex, co-founded by Arthur Hayes. Bitmex has a reputation of massive manipulation on their exchange, together with a CEO who has a big following on social media, therefore I think this will be the next x10. The current market cap is only $24,1 million dollars. Monthly burnings are based on the total volume times a certain percentage of the fee. With Bitcoin at ATH and the others following this burning mechanism is also at an All Time High.
Crypto will keep luring new people in the coming weeks/months meaning also BitMex might see a user-inflow. Therefore we have a good reason to assume BMEX will follow these highs, also considering these catalysts and the closing of this massive falling wedge.
Technical part:
- Massive falling wedge
- RSI becoming stronger compared to the price
- BMEX/BTC massively oversold, and almost touching the trend line
This is not financial advice, always do your own research.