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Ordinals and BRC-20 will disappear in a matter of months, JAN3 CEO says
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The latest hype around Bitcoin (BTC) Ordinals and BRC-20 tokens is unsustainable and will fade away in a matter of months, according to JAN3 CEO Samson Mow.
“These guys are basically paying massive amounts of fees that go directly to Bitcoin miners, and there is no way this can be sustained," Mow said in an exclusive interview with Cointelegraph.
Ordinals and BRC-20 will disappear in a matter of months, JAN3 CEO says
The hype around Bitcoin Ordinals and BRC-20 tokens is unsustainable and will fade away in a matter of months, according to JAN3 CEO Samson Mow.
Ordinals and BRC-20 will disappear in a matter of months, JAN3 CEO says
The hype around Bitcoin Ordinals and BRC-20 tokens is unsustainable and will fade away in a matter of months, according to JAN3 CEO Samson Mow.
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BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewTraders: BTC price must retain $26,500
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The pair saw weakness after the start of the week’s final Wall Street trading session, briefly cutting through the key 100-day and 200-week moving averages (MAs) before rebounding.
BTC/USD 1-hour candle chart (Bitstamp) with 100-day, 200-week MA. Source: TradingViewAs the weekend began, market participants were split over the likely course of events to come.
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Price analysis 5/12: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC
Bitcoin (BTC) extended its decline on May 12 but analyst Philip Swift, co-founder of trading suite DecenTrader and creator of data resource LookIntoBitcoin, does not expect a deep correction. He said it was “interesting to note that the long/short ratio has been climbing as price has trended down.”
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Daily cryptocurrency market performance. Source: Coin360However, in the near term, Bitcoin could be facing pressure due to the relief rally in the U.S. dollar index (DXY). Typically, the DXY has an inverse correlation with Bitcoin’s performance.
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Bitcoin and most major altcoins are slumping, but the charts suggest that a recovery could be around the corner.
Price analysis 5/12: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC
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