According to Cointelegraph, Benjamin Cowen, founder of Into The Cryptoverse, said in an interview yesterday: “I don’t think Bitcoin’s dominance (market share) will return to 70%. My expected target is 60%.”
Cowen explained that during “major altcoin seasons,” such as 2021, Bitcoin’s dominance tends to decline, only to “slowly” recover to previous levels after the market turns bearish. However, in this cycle, he is more confident that even at price highs, Bitcoin will not recover to the same market share as in the past.
“I think there’s room for Ethereum and a lot of other cryptocurrencies to grow,” Cowen added, noting that Bitcoin will “take the final step” toward 60% as early as September or as late as December.
