According to Cointelegraph Research, in addition to the 16% drop in the price of Bitcoin in April, the market value of counterfeit products also fell by 22.96% from $11,500 to $887.62 billion. As of May 9, the market value of Bitcoin rebounded by 1.53%, but two key indicators continued to show a negative overall picture.
First, the long-term upward trend of Bitcoin dominance has increased by 32% over the past two years, continuing to put pressure on the liquidity and growth of counterfeit products as capital remains concentrated in Bitcoin. Second, the Counterfeit Products Seasonal Index briefly fell to the "Bitcoin Season" level in mid-April, meaning that Bitcoin still outperformed 60% of counterfeit products over a 90-day period.
Analysis: The long-term upward trend of Bitcoin dominance has increased by 32% in the past two years.
2024-05-15 02:20:42
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