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Opinion: Bitcoin's market share will not return to 70%, Ethereum and other cryptocurrencies still have room for development

Opinion: Bitcoin's market share will not return to 70%, Ethereum and other cryptocurrencies still have room for development

Bitget2024/08/18 08:10

Benjamin Cowen, founder of Into The Cryptoverse, said in an interview yesterday: "I don't think Bitcoin's dominance (market share) will return to 70%, my target is 60%." Cowen explained that during the "major altcoin season", such as in 2021, Bitcoin's dominance tends to decline but slowly recovers to previous levels after the market turns bearish. However, in this cycle, he is more confident that even at high prices, Bitcoin will not rebound to the same market share as before. "I believe Ethereum and many other cryptocurrencies have room for development," Cowen added and pointed out that Bitcoin will take its final step towards 60% either earliest by September or latest by December.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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