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via CoinDesk · By CoinDesk Staff

Purge of millions of crypto tokens underway, BTC needs it for sustainable bull cycle: Ben Cowen

BTC

BTC/USDT

$79,926.00

+0.22%

$79,926.00

+0.22%

(24s)

24h Volume

$6,932,142,277.85

24h H/L

$80,107.99 / $79,233.00

Change: $874.99 (1.10%)

Long/Short

53.1%

Long: 53.1%Short: 46.9%

Funding Rate

+0.0025%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,812.01

▼ -0.02%

Volume (24h): -

Resistance Levels

Resistance 3$88,315.23

Resistance 2$81,908.22

Resistance 1$80,157.58

Price$79,812.01

Support 1$79,635.96

Support 2$77,523.79

Support 3$73,033.65

Pivot (PP):$79,824.58

Trend:Sideways

RSI (14):66.7

CoinDesk Staff

(11:29 AM UTC)

1 min read

Verified byMichael Roberts

0 comments

Researcher and market analyst Ben Cowen says the purge of millions of altcoins is already underway and is necessary for a sustainable bitcoin bull market to be in place.

The urgent need for a “mass extinction” of “junk coins” from the crypto market is not at all a new topic. Cardano Founder Charles Hoskinson and Ethereum co-founder Vitalik Buterin predicted that over 90% of the initial coin…

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Source

CoinDesk Staff · CoinDesk

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