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Заголовок Bitcoin’s Market Dominance Rises To 60%, Is BTC Poised For Even Greater Control?
Дата 20241112

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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s Market Dominance Rises To 60%, Is BTC Poised For Even Greater
Control?

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s Market Dominance Rises To 60%, Is BTC Poised For Even Greater
Control?

by Godspower Owie

4 hours ago

in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin News

0

Both retail and institutional adoption and interest in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin continue to see
notable growth following the recent price upswing over the past week, which
has led to a huge rise in BTC s dominance over other cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта
assets in the market.

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s Market Dominance Almost Over

With Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin persistently witnessing a significant price rally, its dominance
in the general crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта has surged to the 60% threshold, suggesting
strong confidence among investors. Benjamin Cowen, the Chief Executive Officer
(CEO) and founder of Into The Cryptoverse pointed out the recent spike in
control while offering insights on the development.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Dominance Strengthens In Key Zone, What Does This
Mean For Altcoins?

This rise in market sovereignty shows that traders are still choosing Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin
over other cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, suggesting the growing demand for BTC as a
dependable asset in a tumultuous market. It also indicates that BTC may gain
more traction, highlighting its position in the market as the leading asset
during a time of optimism.

Since Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s dominance reached 60%, Benjamin Cowen has underscored
his extreme optimism for the ALT/BTC pairs, pointing out that the level might
be the top. I think there is a good chance that 60% is the top,
he stated. ALT/BTC pairs display a similar trend to that of 2020 | Source:
Benjamin Cowen on X

After examining the development, the expert believes the significant upswing
in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin market control is either over or drawing closer to its end.
Nonetheless, the bottoming of the ETH/BTC pairs will ultimately determine
whether Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s market dominance reaches a new high or a lower high in
December.

Thus far, the market expert has highlighted two key factors under the cyclical
view, and the monetary policy view for investors to consider that may cause
the ALT/BTC pairs to hit a final low and then turn BTC s dominance
bullish once more in December.

According to the founder, exactly four years ago, in mid-November, the ALT/BTC
pairs also had a two-week rally before descending again in December. This
factor is especially crucial for those who consider the cyclical view.

Meanwhile, for those who prefer the monetary policy view, Cowen underlined
that the ALT/BTC pairs in 2019 did not bottom until the conclusion of QT,
which has not yet taken place.

BTC And Altcoin Dominance Correlation

As the market continues to demonstrate upward momentum, market expert and
trader, Ash Crypto has also shed light on the connection between Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin and
Altcoin market dominance, suggesting that the altseason will soon be upon us.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Takes Control: BTC’s Market Maintains Dominance
Surging To New Highs

Ash Crypto noted that historically, there has been an inverse correlation
between BTC and altcoin dominance. In the last 2 cycles, this connection has
been particularly evident by altcoin s market dominance surging amidst a
drop in BTC s market control.

Specifically, this has occurred every 8 months in the past following the
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Halving cyclical event. Meanwhile, we are currently in the 7th month
since this cycle s Halving. With the dominance of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin and altcoin
positioned at crucial levels, Ash Crypto expects a potential reversal in the
near term that will trigger the much-anticipated altseason 2.0. BTC trading at
$88,779 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Unsplash, chart from Tradingview.com

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