Bitcoin

<p>Benjamin Cowen, a leading analyst with a YouTube following of approximately 783,000, sheds light on a concerning trend he believes is on the horizon. A significant drop in altcoins could be imminent. According to him, this comes as no surprise, as it’s simply a repetition of historical cycles.</p><div class="thumbnail post-cover-image"><img src="https://www.cointribune.com/app/uploads/2023/06/crash-altcoin-1024x683.png" srcset="https://www.cointribune.com/app/uploads/2023/06/crash-altcoin-1024x683.png 1024w, https://www.cointribune.com/app/uploads/2023/06/crash-altcoin-300x200.png 300w, https://www.cointribune.com/app/uploads/2023/06/crash-altcoin-768x512.png 768w, https://www.cointribune.com/app/uploads/2023/06/crash-altcoin.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" class="post-cover-image--img" alt="Altcoins and BTC coins"></div><div class="my-4"></div>



<h2 id="h-bullish-bitcoin-dominance-before-halving-a-key-indicator">Bullish Bitcoin dominance before halving: a key indicator</h2>



<p>To forecast <a href="https://www.cointribune.com/bloomberg-predit-une-chute-du-marche-des-cryptos-en-juin/" target="_blank" rel="noreferrer noopener">market trends</a>, Benjamin Cowen relies on the Bitcoin dominance index (BTC.D). Which he deems highly significant in his analyses. This index measures the proportion of the total market capitalization attributed to Bitcoin compared to other altcoins. Cowen asserts that a bullish BTC.D chart indicates Bitcoin gaining strength at the expense of altcoins.</p><div class="my-4"><div class="ads ">
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<p>The analyst firmly believes that the Bitcoin dominance index will continue its upward trajectory until the approach of the next halving, anticipated for next year. As a reminder, each halving event within the Bitcoin blockchain results in a halving of the mining reward. This strategy aims to leverage Bitcoin’s scarcity to stimulate its value. Aligning with the well-known adage that rarity commands a high price.</p>



<p>Cowen asserts that history has shown when the Bitcoin dominance index is on the rise before a halving, altcoins tend to depreciate. Consequently, Cowen suggests that the current market conditions are not favorable for altcoins.</p>



<h2 id="why-the-altcoin-market-could-turn">Why the altcoin market could turn</h2>



<p><a href="https://dailyhodl.com/2023/06/04/top-analyst-benjamin-cowen-issues-warning-says-history-signaling-massive-altcoin-reckoning/" target="_blank" rel="noreferrer noopener">According to Cowen</a>, if the degree of Bitcoin’s supremacy surpasses the 49% threshold, it could trigger a reversal of the altcoin market trend. He argues that even in the event of a Bitcoin price decline, the dominance index can continue to climb. Therefore, he encourages investors to prepare for a potential rise of this index beyond 49%. A scenario that could indicate weakening signs for altcoins.</p>



<p>Cowen foresees a turbulent future for altcoins. In a time when investors seek to consolidate the security of their portfolios and make wise decisions. It appears crucial to heed this warning. Nevertheless, it is important to remember that the cryptocurrency market is inherently unpredictable, and despite all possible expertise, forecasts <a href="https://www.cointribune.com/les-previsions-de-prix-du-bitcoin-decryptees/" target="_blank" rel="noreferrer noopener">do not guarantee unwavering outcomes</a>.</p>

Could altcoins be headed for a fall? Benjamin Cowen’s alarming analysis

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