Analyst Predicts Potential Turnaround for Altcoins Against Bitcoin

Analyst Benjamin Cowen suggests that the struggling altcoin market might start recovering against Bitcoin (BTC) under specific conditions.

Cowen explains that the key indicator to watch is Ethereum’s performance against Bitcoin (ETH/BTC). He mentions that if the ETH/BTC trading pair hits a range between 0.03 BTC and 0.04 BTC on the weekly chart, which it recently did, Bitcoin’s market dominance (BTC.D) could begin to decline.

The BTC.D index measures Bitcoin’s share of the total cryptocurrency market cap. A decrease in this index often indicates that altcoins are outperforming Bitcoin.

Cowen believes that the ETH/BTCvaluation is crucial for understanding whether the altcoin market will improve or continue facing challenges. He has anticipated for the past two and a half years that altcoins would likely continue to lose value to Bitcoin until ETH/BTC reaches the 0.03 to 0.04 BTC range. Now that ETH/BTC has reached 0.04, he suggests that a market shift might be imminent.

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Cowen also forecasts that Bitcoin’s dominance might peak within the next few months. He suggests that BTC dominance could peak as early as September, but it could also extend to December.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.