A popular cryptocurrency analyst said that a counterfeit currency based on Ethereum (ETH) appears ready to rise significantly.An anonymous trader named AltcoinSherpa told his 196000 fans on social media platform X that the decentralized oracle service Chainlink (LINK) is one of the most powerful projects in the industry, and counterfeit coins have already broken through months of accumulation
A popular cryptocurrency analyst said that a counterfeit currency based on Ethereum (ETH) appears ready to rise significantly.
An anonymous trader named AltcoinSherpa told his 196000 fans on social media platform X that the decentralized oracle service Chainlink (LINK) is one of the most powerful projects in the industry, and counterfeit coins have already broken through months of accumulation.
LINK: You have over 500 days to purchase this, but you still faded it. Now you will miss out on all the gains. I still think this is one of the best coins/items among all cryptocurrencies. It should be great when it breaks through
As of the writing of this article, the transaction price of LINK is $10.71, which is much higher than the upper limit of the accumulation range of counterfeit currency Sherpa.
However, the trader stated that he is still skeptical about whether the comprehensive "counterfeit currency season" or the stage of multiple counterfeit currencies witnessing a parabolic rise is imminent.
He stated that he is paying attention to the comparison between Ethereum and Bitcoin (ETH/BTC), which typically measures investors' risk appetite for counterfeit currency and Bitcoin's dominant position (BTC. D), which tracks the percentage of the total market value of cryptocurrencies belonging to Bitcoin.
Relatively high BTC D may indicate that investors have already surpassed Bitcoin and liquidity may shift towards counterfeit currency. AltcoinSherpa predicts BTC D will further increase slightly and then reverse to around 56%.
Can the era of alternative seasons be now? I doubt it. We will wait to see other integrations of ETHBTC, BTC. D, and BTC
BTC D: For Bitcoin's dominant position, it may only be slightly higher, and then the gathering begins. Although it may already be that time now.
If you have a substitute, you would like this to decrease
As of the time of writing, BTC The trading price of D is 52.43%, which is close to the upward target of around 55% for the counterfeit currency Sherpa.
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