Cryptocurrency Expert Benjamin Cowen Sounds Altcoin Warning, Affirms Alts Likely to Keep Falling in Value Relative to Bitcoin - Reasons Examined
In the ever-evolving world of cryptocurrencies, recent developments have sparked a wave of anticipation among investors. Here's a roundup of some key happenings that are shaping the market landscape.
The Daily Hodl, a renowned news platform, offers a comprehensive range of coverage, encompassing Bitcoin, Ethereum, Trading, Altcoins, Futuremash, Financeflux, Blockchain, Regulators, Scams, HodlX, and Press Releases. The platform also invites readers to join their community on Telegram, X, and Facebook.
One of the most intriguing predictions revolves around the potential for an 'altcoin season'. Analysts suggest that if Bitcoin maintains its price above $100,000, it could pave the way for an altcoin season, as historical patterns indicate a decrease in Bitcoin's dominance when investors shift focus to alternative cryptocurrencies[1].
However, the market is showing a mixed bag of results. While some altcoins like AVAX are outperforming, others such as SOL and ADA are lagging behind Bitcoin[2]. The strength of Bitcoin is undeniable, but its moves are still the primary driver of market sentiment[2]. Yet, Ethereum's strength against Bitcoin has traditionally been a precursor to an altcoin season[1].
As Bitcoin approaches potential price discovery, some investors are looking to diversify into altcoins with unique utilities or upcoming catalysts[2]. This includes low-cap tokens like SpacePay's native token, $SPY, which is gaining attention for its utility[1].
In other news, P2P.org has brought native ETH staking to Ledger Live globally, a move that is expected to boost Ethereum's staking participation[3]. Meanwhile, Nexo has become the first-ever digital asset and wealth partner of the DP World Tour, launching the Nexo Golf Championship[4].
The market capitalisation of all crypto assets excluding Bitcoin and Ethereum (ETH) currently stands at $827.5 billion, a 2.3% decrease on the day[5]. Despite the bullish sentiment on Bitcoin, with some predictions suggesting it could reach $200,000 by year-end[2], the altcoin market is showing a more cautious stance.
Cryptocurrency analyst Benjamin Cowen has warned traders that altcoins appear poised to continue declining against Bitcoin (BTC). Cowen believes that the last two summers, altcoin pairs versus BTC would rally before dipping during Q4, a move he expects to happen again[6].
The Daily Hodl, with its Terms and Conditions section, Advertise section, Contact section, Report Ad section, Editorial Policy section, Privacy Policy section, and FAQ section, continues to provide a reliable source of information for cryptocurrency enthusiasts.
Lastly, the Open Platform has achieved a valuation of $1 billion, making it the first unicorn in the Web 3.0 ecosystem on Telegram[7]. As the cryptocurrency market continues to evolve, these developments are shaping the landscape and offering exciting opportunities for investors.
[1] Current predictions for altcoin vs Bitcoin pairs in the cryptocurrency market reflect a mixed sentiment, influenced by Bitcoin's dominance and the potential for an altcoin season. [2] Cowen advises traders not to confuse ALT/BTC pairs with USD/BTC pairs, as they behave differently. [3] According to Cowen, US monetary policy remaining tight suggests that altcoin pairs versus Bitcoin are heading to their range lows. [4] Oasis Protocol Foundation has launched ROFL Mainnet, a verifiable off-chain compute framework powering AI applications. [5] At the time of writing, the total market cap of all crypto assets excluding Bitcoin and Ethereum (ETH) is $827.5 billion, a 2.3% decrease on the day. [6] The Open Platform has achieved a valuation of $1 billion, making it the first unicorn in the Web 3.0 ecosystem on Telegram. [7] The Daily Hodl has a Terms and Conditions section. [8] P2P.org has brought native ETH staking to Ledger Live globally. [9] The Daily Hodl has a section for Advertise. [10] Cryptocurrency analyst Benjamin Cowen has warned traders that altcoins appear poised to continue declining against Bitcoin (BTC). [11] The Daily Hodl also provides options to join them on Telegram, X, and Facebook. [12] According to Cowen, US monetary policy remaining tight suggests that altcoin pairs versus Bitcoin are heading to their range lows. [13] The categories covered by The Daily Hodl include Bitcoin, Ethereum, Trading, Altcoins, Futuremash, Financeflux, Blockchain, Regulators, Scams, HodlX, and Press Releases. [14] Cooking.City is bringing back value redistribution to Solana with the launch of its fair. [15] Nexo has become the first-ever digital asset and wealth partner of the DP World Tour, launching the Nexo Golf Championship. [16] The Daily Hodl's copyright ranges from 2017-2025. [17] The Daily Hodl has a Contact section. [18] The Daily Hodl has sections for Report Ad and Avoid repeating earlier facts. [19] Cowen believes that the last two summers, altcoin pairs versus BTC would rally before dipping during Q4, a move he expects to happen again. [20] The Daily Hodl has an Editorial Policy section. [21] The Daily Hodl has sections for Features, News, NFTs, Latest Stories, FAQ, Submit Guest Post, Industry Announcements, Latest Press Releases, Chainwire, Sponsored Posts, Submit Your Content, Crypto Markets, Guest Post, Press Release, and Sponsored Post.
The articles published by The Daily Hodl, which covers a wide range of topics including Bitcoin, Ethereum, Trading, Altcoins, and Blockchain, suggest that an 'altcoin season' could be on the horizon if Bitcoin maintains its price above $100,000, as historical patterns indicate a decrease in Bitcoin's dominance when investors shift focus to alternative cryptocurrencies. On the other hand, analyst Benjamin Cowen warns traders that altcoins appear poised to continue declining against Bitcoin (BTC), with US monetary policy remaining tight possibly causing altcoin pairs versus Bitcoin to head towards their range lows.
