According to an analysis by Joao Wedson, founder and CEO of Alfractal Company, Bitcoin’s superiority (BTC) could provide evidence for ether (ETH) and other Altcoins (alternative coins to BTC).
Wedson’s study is based on the following observations: Short-term holders (STH) They accumulate etherLong-term Holders (LTHS) are removing it.
According to the data, LTHS currently has 81 million ETH compared to 39.4 million STH.
Historically, when STH avoids selling, “ETH prices tend to increase significantly.” Wedson says.
Therefore, CEO Alfractal will project other altcoins and ether in the next quarter “They capture a large part of BTC’s control.”.
As can be seen in the graphics below, based on alfractal data, the ETH offers maintained by LTHS and STHS show significant fluctuations over time, correlated with the price of the asset.
The blue line represents STH, and the yellow lths and white represent the price of ether.
The graph is extracted Accumulated Holdings and ETH Prices for Short-Term Holders. At the same time, according to the graph, long-term holders are separated from the ether coin.
These patterns suggest that short-term holders believe in rebounds. This suggests that in three months it could potentially achieve ETH’s true bullish impulses. The positive estimate is due to the fact that price expectations are factors that influence assets contributions.
The alfractal graph uses green circles to show that this behavior of STH and LTHS is consistent with a rapid increase from the ether. It’s been seen in the past. This happened between 2017 and 2019 and 2021, for example.
As reported by Cryptonoticias, the price of Ether reached August 22nd New Historical Largest Touching $4,880.
Alfractal data shows that Ethereum’s native tokens are close to surpassing the $5,000 barrier for the first time.
