While the cryptocurrency world is focusing on the US elections, famous analyst Benjamin Cowen stated that the expected increases in altcoins may now begin. Cowen, who made a brief market assessment on X, pointed to December of this year and January of 2025.

“Too many people gave up”

Cowen, who has been warning for about 2 years that Bitcoin dominance could increase significantly and that this situation could decrease altcoins, especially in BTC parity, said the following:

“We are now ready for the grand finale in altcoins. The expected day of reckoning has come. I expect the declines to end by December of 2024 or the second week of January of 2025 at the latest. It has been a very long journey. Many people gave up on this path, but I always said this would happen.”

Dominance warning turned out to be true

Cowen has been pointing out the danger of altcoin investments for about 2 years and regularly stated this in his publications. Drawing particular attention to the ETH/BTC parity, Cowen stated that Bitcoin’s power was proven once again with the recent increase in dominance.

Bitcoin dominance has increased from 39% to over 60% in the last 3 years. While every movement in Bitcoin has melted altcoins, especially this year, the ETH/BTC parity, which is the most followed in terms of altcoin movement, has even fallen below 0.04.

Cowen had stated that he expects a return in this parity in a short time. Bitcoin dominance is moving above 60.2% at the time the news was written.