**Bitcoin Dominance: Analysts Weigh In on Future Trends**
A popular crypto analyst, Benjamin Cowen, doubts Bitcoin dominance will hit the highs seen in December 2020. Back then, Bitcoin's market cap surged 220% in three months. Cowen, founder of Into The Cryptoverse, predicts Bitcoin dominance will cap at 60%, not 70%.
Cowen notes that Bitcoin dominance dips during major altcoin seasons but slowly recovers. This cycle, he believes Bitcoin won't reclaim past dominance levels, leaving room for Ethereum and other cryptocurrencies. He expects Bitcoin to hit 60% dominance between September and December.
Currently, Bitcoin dominance stands at 57.36%, up 4.25% since mid-July. However, trader Kaleo argues Bitcoin dominance may have peaked at 57.50%, signaling a potential altcoin season when it drops below 50%.
In 2020, Bitcoin dominance hit 70.23% before a price surge to $61,283. Cowen highlights that today's market is different due to the larger stablecoin market cap. He suggests combining Bitcoin and Tether (USDT) dominance for a "flight to safety" metric, which currently sits at 63.07%.