{"id":51457,"date":"2024-08-18T01:14:00","date_gmt":"2024-08-18T01:14:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/bitcoin-dominance-trading-altcoin-season-benjamin-cowen-crypto-trader"},"modified":"2024-08-18T06:49:43","modified_gmt":"2024-08-18T06:49:43","slug":"crypto-analyst-doubts-bitcoin-dominance-is-going-back-up-to-70-again","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51457","title":{"rendered":"Crypto analyst doubts Bitcoin dominance is 'going back up' to 70% again"},"content":{"rendered":"

A popular cryptocurrency analyst doubts that Bitcoin dominance will return to the levels it reached in December 2020, before the asset’s price surged approximately 220% within three months.<\/p>\n

\u201cI don\u2019t think it is going back up to 70%, my target for Bitcoin dominance has been 60%,\u201d Into The Cryptoverse founder Benjamin Cowen explained in an interview with David Lin on Aug. 17.<\/p>\n

Analyst skeptical of Bitcoin dominance returning to previous cycle highs<\/h3>\n

Cowen explained that during \u201cmajor altcoin seasons,\u201d such as the one in 2021, Bitcoin (BTC) dominance \u2014 the ratio of Bitcoin’s market capitalization to the entire crypto market \u2014 tends to decline but \u201cslowly\u201d returns to its previous level after “the breakdown.” However, this cycle, he is more confident that even at Bitcoin’s peak, it won’t attract the same level of dominance seen in the past.<\/p>\n

\u201cI think there is room for Ethereum and many other cryptocurrencies,\u201d Cowen added.<\/p>\n

Cowen believes that Bitcoin dwill \u201cmake that final move\u201d towards 60% as early as September or as late as December.<\/p>\n

At the time of publication, Bitcoin dominance is 57.36%, up 4.25% since July 18, according to TradingView data.<\/p>\n

Bitcoin dominance is up 11.20% since Jan. 1. Source: TradingView<\/em><\/figcaption><\/figure>\n

Though pseudonymous crypto trader Kaleo recently told their 643,700 X followers that Bitcoin dominance may have already peaked.<\/p>\n

\u201cI feel fairly confident this is the cycle top for Bitcoin Dominance,\u201d Kaleo stated in an Aug. 9 X post when Bitcoin dominance was around 57.50%.<\/p>\n

\u201cDidn’t quite hit the 60% I was expecting – which is a good thing because that would have been painful,\u201d they added. Kaleo believes that “the real” alt season begins when Bitcoin dominance falls below 50%<\/p>\n

Traders often look for signs that Bitcoin dominance is peaking as a signal to sell Bitcoin and shift capital into alternative assets, such as altcoins.<\/p>\n

Bitcoin dominance playing field is different this cycle<\/h3>\n

In December 2020, Bitcoin dominance reached 70.23% before its price surged around 220% to $61,283 in March 2021, just four months later, according to CoinMarketCap data.<\/p>\n

Cowen noted that Bitcoin dominance is “trickier” in 2024 compared to 2019, when it peaked slightly above 71%, because the stablecoin market capitalization was significantly lower back then.<\/p>\n

Related: <\/em><\/strong>Bitcoin price bounces 4% as triple \u2018death cross\u2019 sparks sub-$50K warning<\/em><\/strong><\/p>\n

Cowen recommends combining Bitcoin dominance with crypto stablecoin Tether (USDT) dominance to calculate your \u201cflight to safety dominance.\u201d<\/p>\n

In the Aug. 17 interview, he explained that the combined figure is about 63%, similar to the level in June 2019, before the United States Federal Reserve cut interest rates.<\/p>\n

At the time of publication, the combined dominance of USDT and Bitcoin is 63.07%.<\/p>\n

Magazine: <\/em><\/strong>AI may already use more power than Bitcoin \u2014 and it threatens Bitcoin mining<\/em><\/strong><\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

*********************************<\/p>\n

If one of the paying programs on our Monitor appeals to you, please support EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n

EN web Support Chat<\/strong> | Hyips and Crypto questions \u2013 HyipChatEN<\/a><\/strong><\/p>\n

Telegram Chat for Crypto and Hyip reports: @HyipChatEN<\/a><\/strong><\/p>\n

*********************************<\/p>\n

Be the first to get most important HYIP news everyday!
\nSimply Follow EN Facebook<\/strong><\/a>, EN Telegram<\/strong><\/a>, EN Twitter<\/strong><\/a>
\nor Subscribe to EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n

If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A popular cryptocurrency analyst doubts that Bitcoin dominance will return to the levels it reached in December 2020, before the asset’s price surged approximately 220% within three months. \u201cI don\u2019t think it is going back … Crypto analyst doubts Bitcoin dominance is 'going back up' to 70% again<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51459,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3812,5652,276,159],"class_list":["post-51457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-cryptonews","tag-emilynews","tag-ethereum","tag-hyipnews","exalt-entry"],"yoast_head":"\nCrypto analyst doubts Bitcoin dominance is 'going back up' to 70% again - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51457\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto analyst doubts Bitcoin dominance is 'going back up' to 70% again - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"A popular cryptocurrency analyst doubts that Bitcoin dominance will return to the levels it reached in December 2020, before the asset’s price surged approximately 220% within three months. \u201cI don\u2019t think it is going back … Crypto analyst doubts Bitcoin dominance is 'going back up' to 70% againRead more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/emilynews.com\/blog\/?p=51457\" \/>\n<meta property=\"og:site_name\" content=\"EmilyNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-18T01:14:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-18T06:49:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/08\/btc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"753\" \/>\n\t<meta property=\"og:image:height\" content=\"499\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Emilynews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emilynews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51457\",\"url\":\"https:\/\/emilynews.com\/blog\/?p=51457\",\"name\":\"Crypto analyst doubts Bitcoin dominance is 'going back up' to 70% again - EmilyNews\",\"isPartOf\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51457#primaryimage\"},\"image\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51457#primaryimage\"},\"thumbnailUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/08\/btc.jpg\",\"datePublished\":\"2024-08-18T01:14:00+00:00\",\"dateModified\":\"2024-08-18T06:49:43+00:00\",\"author\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\"},\"breadcrumb\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51457#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/emilynews.com\/blog\/?p=51457\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51457#primaryimage\",\"url\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/08\/btc.jpg\",\"contentUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/08\/btc.jpg\",\"width\":753,\"height\":499},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51457#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/emilynews.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto analyst doubts Bitcoin dominance is 'going back up' to 70% again\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/emilynews.com\/blog\/#website\",\"url\":\"https:\/\/emilynews.com\/blog\/\",\"name\":\"EmilyNews\",\"description\":\"EmilyNews Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/emilynews.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\",\"name\":\"Emilynews\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"caption\":\"Emilynews\"},\"url\":\"https:\/\/emilynews.com\/blog\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Crypto analyst doubts Bitcoin dominance is 'going back up' to 70% again - EmilyNews","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/emilynews.com\/blog\/?p=51457","og_locale":"en_US","og_type":"article","og_title":"Crypto analyst doubts Bitcoin dominance is 'going back up' to 70% again - EmilyNews","og_description":"A popular cryptocurrency analyst doubts that Bitcoin dominance will return to the levels it reached in December 2020, before the asset’s price surged approximately 220% within three months. \u201cI don\u2019t think it is going back … Crypto analyst doubts Bitcoin dominance is 'going back up' to 70% againRead more","og_url":"https:\/\/emilynews.com\/blog\/?p=51457","og_site_name":"EmilyNews","article_published_time":"2024-08-18T01:14:00+00:00","article_modified_time":"2024-08-18T06:49:43+00:00","og_image":[{"width":753,"height":499,"url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/08\/btc.jpg","type":"image\/jpeg"}],"author":"Emilynews","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Emilynews","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/emilynews.com\/blog\/?p=51457","url":"https:\/\/emilynews.com\/blog\/?p=51457","name":"Crypto analyst doubts Bitcoin dominance is 'going back up' to 70% again - EmilyNews","isPartOf":{"@id":"https:\/\/emilynews.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/emilynews.com\/blog\/?p=51457#primaryimage"},"image":{"@id":"https:\/\/emilynews.com\/blog\/?p=51457#primaryimage"},"thumbnailUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/08\/btc.jpg","datePublished":"2024-08-18T01:14:00+00:00","dateModified":"2024-08-18T06:49:43+00:00","author":{"@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33"},"breadcrumb":{"@id":"https:\/\/emilynews.com\/blog\/?p=51457#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/emilynews.com\/blog\/?p=51457"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/?p=51457#primaryimage","url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/08\/btc.jpg","contentUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/08\/btc.jpg","width":753,"height":499},{"@type":"BreadcrumbList","@id":"https:\/\/emilynews.com\/blog\/?p=51457#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/emilynews.com\/blog"},{"@type":"ListItem","position":2,"name":"Crypto analyst doubts Bitcoin dominance is 'going back up' to 70% again"}]},{"@type":"WebSite","@id":"https:\/\/emilynews.com\/blog\/#website","url":"https:\/\/emilynews.com\/blog\/","name":"EmilyNews","description":"EmilyNews Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/emilynews.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33","name":"Emilynews","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","caption":"Emilynews"},"url":"https:\/\/emilynews.com\/blog\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51457"}],"version-history":[{"count":1,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51457\/revisions"}],"predecessor-version":[{"id":51460,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51457\/revisions\/51460"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/media\/51459"}],"wp:attachment":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}