⭐⭐Crypto analyst upsets altcoin investors: Dominance may increase ⭐⭐

Crypto analyst Benjamin Cowen expects Bitcoin’s market dominance to reach 60% by December 2024 at the latest.

Cowen predicts that Bitcoin will return to the levels it reached in December 2020, when its price increased by nearly 220% in three months. “I don’t think dominance will return to 70%; my target is 60%,” Into The Cryptoverse founder Benjamin Cowen said in an interview with The David Lin Report on August 17. Cowen stated that Bitcoin will return to its previous level in the “altcoin bull” of 2021, but emphasized that Bitcoin will not reach the same level it did in the past when it reached its peak dominance in this cycle. “I think Ethereum and many other cryptocurrencies will be effective in dominance,” Cowen said. Cowen believes that Bitcoin will make its “final move” to 60% in September or December at the latest.

According to TradingView data, Bitcoin’s dominance has increased by 4.25% since July 18, reaching 57.36%.

On the other hand, crypto analyst Kaleo told his 643,700 followers that Bitcoin dominance may have peaked. “I am quite confident that this is the peak of the cycle for Bitcoin dominance,” Kaleo wrote in a post on August 9, when Bitcoin’s dominance was around 57.50%.

“The 60% levels that I was expecting have not yet arrived. This is a good thing because an increase in dominance can be painful,” Kaleo added.

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