{"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":"
Cowen explains that the key indicator to watch is Ethereum’s<\/a> <\/strong>performance against 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’s market dominance (BTC.D) could begin to decline.<\/p>\n 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.<\/p>\n 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