Popular Crypto Trader Turns Bullish on Hedera (HBAR), Reveals Short-Term Ethereum (ETH) Price Target

MARKET_WATCH Crypto

A closely followed crypto trader is flipping bullish on one of Ethereum’s (ETH) competitors as markets enter a new year. The pseudonymous trader known as Credible tells his 335,000 Twitter followers that he’s looking to dollar cost average (DCA) into Hedera (HBAR), which is currently over 93% down from all-time highs. “We’ve retraced back to the origin of the last move from which we ran 12x after a near 12 month consolidation. If you’re bullish on HBAR it’s a great time to be DCA’ing in my opinion.” Source: Credible Crypto/TwitterHBAR is the native token of the Hedera Hashgraph system, which aims to be a faster, more efficient and more secure version of standard blockchain technology. It uses what’s known as its Gossip protocol and incorporates a Directed Acyclic Graph (DAG) as the backbone of its system. 

 

HBAR currently has a market cap of just under $1 billion and a max supply of 50 billion tokens, with 25 billion currently in circulation. While Hedera has a large max supply compared to circulating supply, Credible says it won’t be an issue once a bull market comes around. “It’s not really an issue IMO [in my opinion]. People just want to rationalize the bearish PA [price action] and because they can’t argue against its fundamentals ‘bad tokenomics’ is an easy alternative to shift the blame to. 

 

When we begin pumping again that argument won’t stand either.” Looking at Ethereum, Credible has a short-term price target near the $1,400 level, about a 16% rally away from current prices. “We got that last push down and took our local lows, now looking for continuation up to the 1st target. Note the two sets of equal lows we have left behind- I expect we come back down for those later. Check my pinned tweet for a vid made last week for more context.” 

 

 

Source : [Popular Crypto Trader Turns Bullish on Hedera (HBAR), Reveals Short-Term Ethereum (ETH) Price Target](news.google.com/__i/rss/rd/articles/CBMigQFodHRwczovL2RhaWx5aG9kbC5jb20vMjAyMy8wMS8wMi9wb3B1bGFyLWNyeXB0by10cmFkZXItdHVybnMtYnVsbGlzaC1vbi1oZWRlcmEtaGJhci1yZXZlYWxzLXNob3J0LXRlcm0tZXRoZXJldW0tZXRoLXByaWNlLXRhcmdldC_SAYUBaHR0cHM6Ly9kYWlseWhvZGwuY29tLzIwMjMvMDEvMDIvcG9wdWxhci1jcnlwdG8tdHJhZGVyLXR1cm5zLWJ1bGxpc2gtb24taGVkZXJhLWhiYXItcmV2ZWFscy1zaG9ydC10ZXJtLWV0aGVyZXVtLWV0aC1wcmljZS10YXJnZXQvYW1wLw?oc=5) undefined - January 03, 2023

Join our 70k+
tribe of Akters

Have any questions?

Check our Q&A

About the AKTIO coin

Benefit fully from our ecosystem

What’s new in the App?

We’re adding new features

Customer support

support@akt.io

+353 1 574 7382

+39 06 4525 6900

Opening hours:

Monday to Friday: 9am - 5pm CET

Company

About

AKTIO coin

Careers

Learn

News

Glossary

AKT Academy

Help

FAQ

Sitemap

System Status

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata ICO Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

Automata Pay Ltd, Reg number 12208424 and incorporated in the United Kingdom is the registered agent of Modulr FS Limited, a company registered in England with company number 09897919, authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573). Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata Pay Europe Limited, Reg number 69028 and incorporated in Ireland is the registered agent of Modulr FS Europe Limited, a company registered in Ireland with company number 638002, authorised and regulated by the Central Bank of Ireland as an Electronic Money Institution (Institution Code C191242). Traditional currency is safeguarded as e-money in accordance with our regulatory obligations. Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata ICO Limited, Reg number 690280 and incorporated in Ireland has applied for a Virtual Asset Service Provider registration with the Central Bank of Ireland. Whilst the application is ongoing we are permitted to continue business as a Virtual Asset Service Provider in line with the Central Bank of Ireland's regulatory disclosure statement as required under section 106L of the CJA 2010 in relation to registered VASPS. It is important to note that a registration as a VASP is a registration for Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) purposes only. While Automata ICO Limited does have certain financial crime control obligations under this registration, cryptoasset services remain largely unregulated. The Financial Ombudsman Service or the Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by Automata ICO Limited.