Analyst and merchant Benjamin Cowen believes Bitcoin (BTC) can continue to perform Altcoins.
In the new strategic session, Cowen says that the total market cap (total3) of Altcoins will continue to fall when paired with Bitcoin to 892,000 YouTube subscribers.
Total3 is a total market cap of all cryptocurrencies except Bitcoin and Ethereum (ETH).
“… Now the Altcoin/Bitcoin pair is a bit flat. I think I’ll use it for the next few weeks like last year.
Cowen also says Bitcoin will continue to develop Altcoins until the US monetary policy is eased.
“The basic case of Bitcoin’s dominance will be higher until the end of quantitative tightening.
… Because the quantitative tightening is not over, I am optimistic about Bitcoin dominance. If the Federal Open Market Committe (FOMC) meetings, there is a possibility that my opinion will change if the Federal Reserve Bank ends quantitative strengthening. ”
Bitcoin dominance is the ratio of the total market cap of BTC compared to all other encryption assets. Increasing Bitcoin’s dominance indicates that Bitcoin rises faster than other encryption assets or relatively decreased compared to the rest of the digital asset market.
Cowen is when the Federal Reserve Bank can alleviate US monetary policy.
“Now, I don’t know how long they have to tighten. There is a possibility of it ending this summer.”
Bitcoin is trading at $ 84,270 for writing.
https://www.youtube.com/watch?v=qmu14i4piyk
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