📊 Bitcoin Dominance to Increase
Crypto analyst Benjamin Cowen predicts Bitcoin’s dominance will rise further despite recent market fluctuations.
📉 Recent Speculation
Cowen addressed speculation that Bitcoin dominance has peaked after a sharper BTC decline compared to altcoins recently. He believes Bitcoin dominance will continue to rise, based on historical patterns and current conditions.
🔍 Altcoin/BTC Pairs
Cowen notes Altcoin/BTC pairs are oscillators, currently above historical lows. He highlights that recent rallies from 0.36 to 0.40 do not signify an alt season, drawing parallels to a similar pattern in 2019.
📅 Cyclical Patterns
Significant altcoin rallies historically occur in post-halving years, potentially indicating 2025 for the next rally rather than 2024. Cowen’s analysis challenges the narrative that altcoins are poised for a breakout soon.
💡 Strategic Implications
Cowen advises that Altcoin/BTC pairs will decline until the Federal Reserve cuts rates or resumes quantitative easing. He cautions against premature anticipation, suggesting Bitcoin dominance will rise more than expected.
🚀 Future of Digital Assets Event
The influence of Bitcoin as an institutional asset class will be explored at Benzinga’s Future of Digital Assets event on Nov. 19.
Top comments (0)