✨Bitcoin Dominance Surges as Altcoin Season Fades: Insights from Peter Brandt and Benjamin Cowen🔥
Market gurus Peter Brandt and Benjamin Cowen are stirring up chatter in the crypto world, sharing their views on where Bitcoin's dominance is heading.
Brandt's chart asks, "What if altcoin season doesn't happen?" signaling a potential uptick in Bitcoin's sway. With Bitcoin dominance currently at 54.27%, Brandt suggests it could soar to 66.32% based on technical patterns.
This shift might mean more money flowing into Bitcoin while altcoins struggle to keep up.
Cowen adds to the conversation, pointing out historical data that backs up Brandt's predictions. He notes that during times of rate cuts and quantitative easing (QE), Bitcoin's dominance tends to stay strong.
Contrary to popular belief, Cowen argues that altcoins might not necessarily shine after Bitcoin peaks. He points to past instances where Bitcoin's dominance remained high despite its price hitting new heights.
Comparing 2019 to now is crucial. Unlike 2019, where Bitcoin didn't break records, 2024 has seen it reach unprecedented levels. Cowen's take challenges the idea that moving investments from Bitcoin to altcoins might pay off, suggesting that altcoins could keep losing value against Bitcoin.
In a nutshell, while some investors hope for altcoins to rise, Brandt and Cowen suggest we might be in for a long stretch of Bitcoin dominance.
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