Analysis: Once the market value of counterfeit coins increases by 17%, the market will enter a "frenzy" stage
In a post on December 28, anonymous cryptocurrency trader Daan Crypto Trades stated that once TOTAL3 (the total market value of all cryptocurrencies excluding Bitcoin and Ethereum) surpasses its historical high of 1.13 trillion USD in 2021 and enters the price discovery phase, the market will enter an "excitement" or "frenzy" stage.
According to data from Tradingview, as of press time, TOTAL3 is currently at 962.78 billion USD, having grown approximately 91.45% since January 1st. Daan said: "As long as its trading price is between about 840 billion USD and about 1.1 trillion USD, I think the market will fluctuate." He indicated that if TOTAL3 falls below 800 billion USD, he would be "more cautious".
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.
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