A well-known cryptocurrency trader by the name of Credible is suddenly bullish about Hedera (HBAR) as markets enter a new year. His price target for Ethereum is $1,400, which would represent a 16% gain over current prices.
According to the Twitter account of the fictitious trader Credible, Hedera (HBAR), which is currently over 93% lower than all-time highs, is the object of a dollar cost average (DCA) investment.
Absolutely. 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 imo. https://t.co/kT4twuwDzA pic.twitter.com/KeRaULNbQU
— CrediBULL Crypto (@CredibleCrypto) January 2, 2023
The HBAR native coin is part of the Hedera Hashgraph system, which aims to be a speedier, more efficient, and more secure version of traditional blockchain technology. The system uses what is known as its Gossip protocol and is built on a Directed Acyclic Graph (DAG).
HBAR now has a market valuation of little under $1 billion with a maximum supply of 50 billion tokens and 25 billion of those in use.
There are reliable assertions that once a bull market starts, it won't matter if Hedera has a large maximum supply compared to the circulating supply.
It's not really an issue imo. People just want to rationalize the bearish PA 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 wont stand either.
— CrediBULL Crypto (@CredibleCrypto) January 2, 2023
On the same day, Credible predicted that Ethereum would soon reach a price of $1,400, which would be a 16% rise from the price at the time.
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. $ETH https://t.co/xc09mSPOoI pic.twitter.com/8LaR0Nkjnj
— CrediBULL Crypto (@CredibleCrypto) January 2, 2023
