Benjamin Cowen – Bitcoin Dominance: One Shining Moment (19.03.2024 Summary)

Benjamin Cowen – Bitcoin Dominance: One Shining Moment (19.03.2024 Summary)

Bitcoin is the boss in the crypto world right now. While some smaller altcoins have their moments where they do well, overall, Bitcoin is becoming more and more dominant.

  • The main reason for this, according to Benjamin, is the current financial conditions. Interest rates are high, and there’s less money floating around. In this kind of environment, riskier investments like altcoins tend to struggle, while Bitcoin, being a more established and stable crypto, holds its ground better.

  • Benjamin thinks that altcoins will keep losing value compared to Bitcoin until the financial conditions ease up. Things like lower interest rates and more money being pumped into the system. Only then might we see an “altcoin season,” where these smaller coins can outperform Bitcoin.

  • For now, it looks like money is flowing from altcoins into Bitcoin, giving it more dominance. Benjamin expects Bitcoin to firmly take the lead in the coming months as altcoins continue to lag behind.

The core idea is that in the current tight financial conditions, Bitcoin is strengthening its position as the top crypto, while altcoins are losing steam. This trend may continue until financial conditions become more favorable for riskier investments like altcoins.