Crypto Strategist Warns of Altcoin Decline
Crypto strategist Credible Crypto is cautioning altcoin investors as Pepe, a Dogecoin rival, experiences a significant drop in value against Bitcoin. Credible Crypto predicts that other altcoins may soon see similar price action.
Key Points:
- Pepe has collapsed by 30% against Bitcoin in just 11 days.
- The sudden decline coincides with reports of the Pepe team selling off their holdings.
- Credible Crypto predicts that Bitcoin’s dominance will dip in September before rising to over 54% by year-end.
- An increasing Bitcoin dominance indicates a flow of liquidity from altcoins to Bitcoin.
- Credible Crypto believes that Bitcoin’s dominance will continue to rise, leading to significant gains for Bitcoin.
Hot Take:
Altcoin investors should proceed with caution as Pepe’s decline against Bitcoin raises concerns about the overall altcoin market. Credible Crypto’s prediction of Bitcoin’s increasing dominance suggests that altcoins may continue to lose value relative to Bitcoin. This trend could lead to significant gains for Bitcoin in the near future.
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