While the upward trend of altcoins, meaning cryptocurrencies other than Bitcoin, has not been clear until recently, a famous cryptocurrency analyst has created a bullish market for altcoins based on indicators.
In a post on CryptoQuant, cryptocurrency analyst Black Kesmet said, “The environment for determining the season of altcoins is not yet ready.
The Ethereum Coinbase Premium (the price difference between Coinbase and Binance), which is used as an indicator, has not been able to escape from the sideways trend since Black Monday on August 5th.
He added, "From February 8 to March 11, when the Ethereum Coinbase Premium was maintained in the positive zone for a long period of time, many altcoins saw rallies."
"At that time, the price of Ethereum also rose from $2,200 (about JPY 320,000) to $4,000 (about JPY 590,000)," he explained.
2024/10/07 16:08 KST
Copyright(C) BlockchainToday wowkorea.jp 117