Cryptocurrency analyst Benjamin Cowen doubts that Bitcoin dominance will return to December 2020 levels when its price surged 220%. Cowen targets a 60% Bitcoin dominance, believing that altcoin seasons cause temporary declines. He predicts Ethereum and other cryptocurrencies will have room to grow. Cowen anticipates Bitcoin reaching 60% dominance between September and December. Meanwhile, trader Kaleo suggests that Bitcoin dominance may have already peaked, signaling a potential alt season. Traders often sell Bitcoin when dominance peaks to invest in alternative assets. In 2020, Bitcoin dominance hit 70.23% before a price surge. Cowen advises considering stablecoin dominance alongside Bitcoin dominance for a comprehensive view. Currently, the combined dominance of USDT and Bitcoin is 63.07%. The article also mentions concerns about AI's power consumption surpassing Bitcoin's and its impact on mining. Read more AI-generated news on: https://app.chaingpt.org/news

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