2024

Bitcoin

April

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Renowned market analysts&nbsp;<a href="https://x.com/PeterLBrandt/status/1777383421410689074" rel="noopener noreferrer nofollow">Peter Brandt</a> and Benjamin Cowen have sparked discussions within the cryptocurrency community with their recent insights into the trajectory of Bitcoin dominance.&nbsp;
Brandt's chart, accompanied by the question, "What if there won't be an altcoin season?" highlights his perspective on the potential rise in&nbsp;<a href="https://u.today/mike-novogratz-names-key-reason-why-hes-bullish-on-bitcoin" rel="noopener noreferrer nofollow">Bitcoin</a> dominance. Currently standing at 54.27%, Brandt suggests that according to patterns of technical analysis, Bitcoin dominance could surge as high as 66.32%.
This scenario, if realized, could signify a shift in liquidity flows, with Bitcoin attracting the majority of investments, while altcoins struggle to gain traction.
<blockquote>
 What if there won't be an altcoin season? <a href="https://t.co/Cuolom5fEV" rel="noopener noreferrer nofollow">pic.twitter.com/Cuolom5fEV</a>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1777383421410689074?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 8, 2024</a>
</blockquote>
<h2 dir="ltr" id="2019-vs-2024">2019 vs. 2024</h2>
Adding to the discourse, Cowen provided further analysis, suggesting that historical trends indicate a potential continuation of Bitcoin's dominance. Drawing parallels to previous market cycles, Cowen pointed out that during periods of rate cuts and quantitative easing (QE), Bitcoin dominance has remained elevated.
He argues that the assumption of altcoin dominance rising after Bitcoin's peak may not hold true, citing historical instances where&nbsp;<a href="https://u.today/peter-schiff-sends-warning-to-bitcoin-investors-details" rel="noopener noreferrer nofollow">BTC</a> dominance surged even as&nbsp;<a href="https://u.today/bitcoin-to-85000-analyst-unveils-updated-btc-price-outlook" rel="noopener noreferrer nofollow">Bitcoin's price</a> reached its zenith. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="903823b4-3d07-4272-8b01-bf1a22b72805" src="https://u.today/sites/default/files/inline-images/btcuspt.png">BTC to USD by <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
The comparison between the current market landscape and that of 2019 is pivotal. Unlike 2019, where new highs were not attained, 2024 has seen Bitcoin reaching unprecedented levels. Cowen's perspective challenges the conventional belief that rotating BTC investments into other altcoins may yield favorable results, suggesting instead that altcoins could continue to lose value against Bitcoin.
All in all, while some investors anticipate opportunities for altcoins to outperform, Brandt and Cowen's perspectives suggest a potentially prolonged period of Bitcoin dominance.

No Altcoin Season: Peter Brandt and Benjamin Cowen Alert Bitcoin Dominance Rising

목차

U_Today

2024년 4월 9일에 게재된 다른 기사

Financial Stability Institute calls for uniform stablecoin regulation

Tokemak (TOKE) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

dWallet Network brings multi-chain DeFi to Sui, featuring native Bitcoin and Ethereum (9 Apr)

Ethena Price Prediction: ENA Goes Ballistic With A 97% Weekly Gain As This Solana Meme Coin Offer...

Crypto.com Sets Sights on Institutional Investors with Dubai Launch

XRP, Filecoin, and Rebel Satoshi ($RBLZ): Which One Promises the Most Gains?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!