The post Bitcoin Eyes Dominance Rise as Altcoins Hype Is False, Believes Top Expert appeared on BitcoinEthereumNews.com.

Gamza Khanzadaev Expert analyst Benjamin Cowen dashes altcoin hopes with blunt Bitcoin prediction Cover image via youtu.be Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Market analyst Benjamin Cowen, known for his expertise and a PhD in engineering, has delivered a candid assessment of the cryptocurrency landscape. In recent social media posts, Cowen challenged the prevailing optimism surrounding altcoins while offering a realistic perspective on Bitcoin’s future. According to Cowen, Bitcoin’s dominance has remained consistently strong throughout 2023, with no weekly close below its bull market support band. This stability, he argues, has debunked the recurring narrative of an impending “alt season,” as previously each surge in alternative to Bitcoin cryptocurrencies has been short-lived, ending in a decline within weeks. #BTC dominance has not had a weekly close below its bull market support band for all of 2023. Every “Alt season” narrative so far this year eventually died a few weeks later. Dominance will likely keep rising for the rest of the year. pic.twitter.com/O7kvgTG9ZC — Benjamin Cowen (@intocryptoverse) October 21, 2023 Cowen’s analysis further revealed a sobering truth for altcoin enthusiasts. Major players like SOL, ETH, AVAX and ADA consistently trailed behind Bitcoin in performance throughout the year. Even as the fourth quarter unfolds, Cowen remains cautious, indicating that substantial altcoin gains are unlikely. No fun till 2024 Despite acknowledging that Bitcoin’s price chart might not exhibit extraordinary peaks too, Cowen remains unperturbed.…

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Filed under: News - @ October 22, 2023 10:48 am