Experienced analyst Benjamin Cowen made a broadcast in which he touched on many topics from Bitcoin dominance to the performance of altcoins. Cowen, who touched on the ETH/BTC parity as he has done many times in his broadcast on YouTube, said that he thinks the bottom is now visible here.

Stating that the liquidity dryness in the world in recent years has benefited Bitcoin dominance despite the price decrease, Cowen stated that this also provides important trading opportunities.

“While 11 ETH was purchased during the Merge period, now 25…”

Cowen, who stated that Ether has seriously melted in Bitcoin parity, especially during the bear season in the last 3 years, also gave an example from the Merge period (September 2022), when Proof of Work was switched to Proof of Stake:

“You can always trade by looking at Bitcoin dominance. Look, 11 ETH were purchased with 1 BTC during the Merge period. Last year, this figure increased to 22. Now it is 25. Yes, 1 BTC can buy 25 ETH right now. I also bought BTC by selling all my ETH during the Merge period. Of course, it is too late now, but this is the logic of this business”

“ALTs are still going to the bottom in BTC parity”

Stating that altcoins are also performing poorly, Cowen drew attention to the TOTAL3 chart, which excludes Bitcoin and Ether:

“When you look at the BTC chart of TOTAL3, you still see a desire to go to the bottom. I do not expect much of a decrease in the ETH/BTC parity anymore, but I think that altcoins will melt even more in the Bitcoin parity. I believe that this decrease may come in December 2024, i.e. 2 months later. All of this, of course, also shows the rise of Bitcoin dominance. Let’s also point out that as liquidity decreases in the world, the value of altcoins always decreases”

“It goes up to 60 percent”

The famous analyst said that he thinks the peak in dominance will go up to 60 percent and said, “Bitcoin has remained around $60,000 this year, but altcoins have always melted. Bitcoin dominance will most likely continue to go up to 60 percent. I think there will be a break at this point.”