Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Analyst: The market for counterfeit coins is gradually rising, but it will not directly enter the counterfeit season

Analyst: The market for counterfeit coins is gradually rising, but it will not directly enter the counterfeit season

Bitget2024/12/14 09:45
BTC+0.60%

According to Cointelegraph, after US Senator Lummis proposed that the US government acquire 5% of Bitcoin supply, Ben Simpson, founder and CEO of Collective Shift, analyzed that if strategic Bitcoin reserves are approved, it is expected that the market will become unstable and Bitcoin will rise before possibly falling back.

As for the current market conditions, Ben Simpson believes that Bitcoin's dominance (a measure of its proportion in the total value of cryptocurrency markets) will "begin to decline", and as Bitcoin begins to consolidate around $100,000 and altcoins start "climbing", a trend towards a "rotation" into altcoins has actually begun but it should not directly enter what is called 'altcoin season'.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
Placeholder partner: After the recent sharp decline in the crypto market, sustained buying is unlikely in the short term; BTC may be repurchased if it falls to $75,000 or below.
2
"Federal Reserve Mouthpiece": Missing Key Economic Data May Lock in 25 Basis Point Rate Cut Path

Crypto prices

More
Bitcoin
Bitcoin
BTC
$108,838.3
-2.04%
Ethereum
Ethereum
ETH
$3,913.92
-2.36%
Tether USDt
Tether USDt
USDT
$1
-0.04%
BNB
BNB
BNB
$1,145.11
-2.89%
XRP
XRP
XRP
$2.35
-2.67%
Solana
Solana
SOL
$187.01
-3.18%
USDC
USDC
USDC
$0.9998
-0.02%
TRON
TRON
TRX
$0.3171
-1.30%
Dogecoin
Dogecoin
DOGE
$0.1895
-3.43%
Cardano
Cardano
ADA
$0.6475
-3.30%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter