Crypto strategist Alex Saunders says traders should be prepared for a major market correction.
In a new YouTube video, Saunders tells his 116,000 subscribers that, although he is long term bullish on crypto, he is taking a step back and hitting the sell button on a portion of his positions.
Saunders highlights the huge returns that some assets have already made, highlighting parabolic projects like Aave and Synthetix (SNX).
He says when investors with deep pockets have made 100x, they are likely to pull out a large portion of their funds.
“I just think that we need a pretty big washout considering everything that I’m seeing on the charts. Just the attitudes of people, the sentiment…
You walk down the list of fundamentals, technicals, and the sentiment psychology and you ask yourself where we are for the majority of altcoins and even for Bitcoin and Ethereum? And I just think that what people don’t realize is that