Benjamin Cowen, an analyst and trader believes Bitcoin (BTC), is poised to continue beating altcoins.
Cowen told his 892 000 YouTube subscribers in a recent strategy session that total market capital of altcoins, when combined with Bitcoin will continue to trend down.
Total3 represents the market capitalization of all cryptocurrencies, excluding Bitcoin (BTC) and Ethereum(ETH).
“…Altcoin/Bitcoin pair are flat. They’re likely to drop in the coming weeks just as they did last year…
Cowen says Bitcoin will continue to outperform altcoins as long as the US monetary policies remain unchanged.
I am bullish about Bitcoin dominance, because the quantitative tightening is not over. It’s possible my opinion could change if the Federal Reserve ended quantitative tightening during the next Federal Open Market Committee meeting (FOMC).
The ratio between the market capitalization for BTC and all other cryptoassets is known as the Bitcoin dominance. If Bitcoin’s dominance is increasing, it means that Bitcoin has either risen faster than other crypto-assets or is declining relatively slowly compared with the rest of digital assets market.
Cowen says that the Federal Reserve can ease its monetary policy at any time.
Bitcoin currently trades at $84,270.
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The post Bitcoin to Continue Outperforming Altcoins until This Happens, according to Benjamin Cowen by Benjamin Cowen could be updated as new information becomes available.
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