{"id":135268,"date":"2024-08-10T11:00:02","date_gmt":"2024-08-10T08:00:02","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135268"},"modified":"2024-08-10T04:49:34","modified_gmt":"2024-08-10T01:49:34","slug":"analyst-predicts-potential-turnaround-for-altcoins-against-bitcoin","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/analyst-predicts-potential-turnaround-for-altcoins-against-bitcoin\/","title":{"rendered":"Analyst Predicts Potential Turnaround for Altcoins Against Bitcoin"},"content":{"rendered":"<p>Cowen explains that the key indicator to watch is <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/ethereum\/\">Ethereum&#8217;s<\/a> <\/strong>performance against <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a> <\/strong>(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&#8217;s market dominance (BTC.D) could begin to decline.<\/p>\n<p>The BTC.D index measures Bitcoin&#8217;s share of the total cryptocurrency market cap. A decrease in this index often indicates that altcoins are outperforming Bitcoin.<\/p>\n<p>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.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/ethereum-eth-validators-exit-in-record-numbers\/\" title=\"Ethereum (ETH) Validators Exit in Record Numbers\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/ethereum-10-1-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Ethereum (ETH) Validators Exit in Record Numbers<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Cowen also forecasts that Bitcoin&#8217;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.<\/p>\n<p><iframe loading=\"lazy\" title=\"ETH\/BTC Outlook\" src=\"https:\/\/www.youtube.com\/embed\/HSoU4_72nZQ\" width=\"100%\" height=\"463\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analyst Benjamin Cowen suggests that the struggling altcoin market might start recovering against Bitcoin (BTC) under specific conditions.<\/p>\n","protected":false},"author":3,"featured_media":26526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-135268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Analyst Predicts Potential Turnaround for Altcoins Against Bitcoin<\/title>\n<meta name=\"description\" content=\"Analyst Benjamin Cowen suggests that the struggling altcoin market might start recovering against Bitcoin (BTC) under specific conditions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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