- Benjamin Cowen asserts that regardless of market movements or external factors, Bitcoin dominance will continue to rise.
- Cowen attributes the trend in Bitcoin dominance not to the news cycle or altcoin activities, but to overarching monetary policy.
- However, he predicts Bitcoin’s dominance will soon reach its peak, potentially setting the stage for an altcoin season as monetary policy loosens.
Bitcoin dominance will keep going up, according to Benjamin Cowen. Cowen, who is known for his stance on Bitcoin’s dominance said that no matter what happens, BTC’s dominance will increase whatever the USD and Bitcoin are doing.
If Bitcoin goes up on its USD pair, Bitcoin dominance will go higher, if Bitcoin goes down on its USD pair, Bitcoin dominance will go higher.
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According to Cowen this has nothing to do with the news cycle, altcoin upgrades, the deflationary mechanism or memecoins – instead it’s all about monetary policy.
It has nothing to do with anything else that a lot of people are focusing on.
Cowen says after the Covid crash in 2020, things got very “overheated” in 2021 and the following rate increase by the Fed caused investors to “systematically flee higher-risk assets, in each asset class, for lower-risk assets”.
Source:
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