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