PANews reported on August 18 that according to Cointelegraph, Benjamin Cowen, founder of Into The Cryptoverse, expressed doubts in an interview whether Bitcoin's dominance could return to its previous cycle highs. "I don't think it will return to 70%. My goal for Bitcoin's dominance is 60%."

Cowen explained that during “major altcoin seasons,” such as 2021, Bitcoin dominance tends to decline but “slowly” returns to previous levels after a “crash.” However, in this cycle, he is more confident that even if Bitcoin reaches a peak in dominance, it will not reach past levels.

“I think there’s room for Ethereum and a lot of other cryptocurrencies to grow.” Cowen believes Bitcoin will “take the final step” to 60% as early as September or as late as December. At press time, Bitcoin’s dominance is 57.36%, up 4.25% since July 18, according to TradingView data.