Analyst and merchant Benjamin Cowen believes that Bitcoin (BTC) is ready to continue to surpass altcoins.
In a new strategy session, Cowen said to its 892,000 YouTube subscribers that the total market capitalization of Altcoins (Total3) when associated with Bitcoin will continue on a downward trend.
Total3 is the total market capitalization of all cryptocurrencies with the exception of Bitcoin and Ethereum (ETH).
“… Now, the Altcoin / Bitcoin pairs are somewhat flat. I think they will probably spend the coming weeks to fall as they did last year … “
Cowen also says that Bitcoin should continue to surpass altcoins until the American monetary policy softens.
“My basic case at the moment for the domination of Bitcoin is that it will probably go higher until the quantitative tightening is finished …
… I am optimistic about the domination of bitcoin because the quantitative tightening is not over. If the federal reserve was to end a quantitative tightening at the next meeting of the Federal Open Market Committee (FOMC), my opinion may change. »»
The domination of Bitcoin is the ratio of the total BTC market capitalization compared to all other cryptographic assets. An increasing domination of Bitcoin indicates that Bitcoin increases more quickly compared to other cryptographic assets or that its drop is relatively silent compared to the rest of the digital asset market.
At the time the federal reserve could relieve American monetary policy, says Cowen,
“Now, I don’t know how long it will take them to end the quantitative tightening, they may put an end to it this summer.”
Bitcoin is traded at $ 84,270 at the time of the editorial staff.
https://www.youtube.com/watch?v=qmu14i4piyk
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