New Era

Bitcoin

when

Zero

<p><strong>The Bitcoin bullish rally reignites a blazing controversy among cryptocurrency investors. With a meteoric rise in recent months, the dominance of the queen of cryptos in the global market fuels two camps with radically opposing views. On one side, some predict a massive amplification of this hegemony. However, others assert that it’s the swan song for Bitcoin, destined to lose ground to altcoins in the long run.</strong></p>
<h2 id="h-the-reasons-for-a-new-era-of-bitcoin-domination">The Reasons for a New Era of Bitcoin Domination</h2>
<p>The recent historic highs of Bitcoin only strengthen the convictions of its most fervent supporters. For them, the ascending triangle formed on the domination charts is just the prelude to a new bullish tide. Like Benjamin Cowen, who believes that ”&nbsp;the Bitcoin domination train is about to leave the station&nbsp;“.&nbsp;&nbsp;</p>
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<p>Famed analyst Beanie goes even further, believing that the current scenario eerily resembles the <a href="https://www.cointribune.com/en/bitcoin-a-dip-below-50000-before-the-bull-run/" target="_blank" rel="noopener noreferrer nofollow">bear market</a> of 2018. “At that time, the preference had shifted towards Bitcoin, a safe haven offering more stability than altcoins,” highlights the investor. This, according to Beanie, suggests an imminent surge in Bitcoin’s dominance beyond the current 50%.</p>
<h2 id="h-the-harbingers-of-a-historic-decline">The Harbingers of a Historic Decline?&nbsp;&nbsp;</h2>
<p>Yet, the opposition does not back down in the face of Bitcoin’s <a href="https://twitter.com/intocryptoverse/status/1773149140811170268?s=46&amp;t=zj7ICl0Lw9vdTKh741lFIQ" target="_blank" rel="noopener noreferrer nofollow">maximalist theses</a>. Among the most vehement critics, analyst Zero Ika points to a long-term bearish trend. “The logarithmic chart unequivocally shows that Bitcoin’s dominance is in a global decline when one steps back,” asserts the trader.</p>
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<p>This rhetoric resonates with investors convinced of the inevitable rise of decentralized alternatives. For them, the advent of more scalable, energy-efficient blockchains offering new use cases is the promise of a rebalancing of forces at play.</p>
<p>Furthermore, many warn against the risks of an overly concentrated crypto market around a single asset. A scenario that would increase regulatory threats looming over the sector, according to these skeptics.</p>
<p>Although current figures favor bitcoiners, history might prove them wrong in the long run. In this war of interpretations that rages on, <a href="https://www.cointribune.com/en/bitcoin-vs-altcoins-the-battle-for-dominance-rages-on-who-will-prevail/" target="_blank" rel="noopener noreferrer nofollow">each camp</a> advances its arguments hoping to have the last word. One thing is certain: the coming months will be decisive in determining whether the hypothesis of an extended reign or the end of a long cycle of Bitcoin’s dominance prevails. Meanwhile, investors will have to deal with the high volatility of a market more fragmented than ever.</p>
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Bitcoin could make way for altcoins!

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