Benjamin Cowen shared his outlook on altcoins:
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Short term (next 1-2 weeks): Altcoins could keep gaining on Bitcoin. The main driver is Ethereum’s strength against Bitcoin. If ETH pushes to new all-time highs, altcoins may get an extra boost.
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Why this is happening: When ETH outperforms Bitcoin, it tends to lift the whole altcoin market. That’s what we’re seeing now.
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Caution for September: History shows Bitcoin dominance often changes direction around September. Cowen expects ETH could top out and pull back after hitting all-time highs. If that happens, altcoins will likely fall against Bitcoin.
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Fake alt season risk: This rally might look like the start of a big altcoin run, but Cowen warns it could fade quickly.
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Longer term outlook: Real altcoin strength, in his view, won’t happen until altcoins drop further against Bitcoin - possibly late October or early November. Until then, Bitcoin and Ethereum remain the safer plays.
Takeaway: Enjoy the short-term alt rally, but be ready for Bitcoin to take back control in September before any bigger alt run later this year.
