Benjamin Cowen, one of the most popular names on social media for years with his analyses on cryptocurrencies, once again emphasised the power of Bitcoin.

Stating that Ethereum and altcoins have seriously melted in BTC parity in the last 2 years, Cowen said, “I have always said that accumulating Ether does not make sense for this reason, but this idea was not popular for many.”

“Ethereum is not a Bitcoin”

Stating that serious caution should be exercised in altcoin transactions, Cowen stated that especially old altcoins ‘almost went to zero’ in both BTC and dollar parity. Stating that Ethereum, although not as much, could not reach the level of Bitcoin, Cowen said that it does not make sense to accumulate ETH:

“You should always be careful with altcoins. I don’t see Ethereum at the level of Bitcoin, but I also see it at a higher level than altcoins. So actually Ethereum is in between these two for me. Ethereum has actually been performing weakly against Bitcoin since 2017. This is why I have been against accumulating ETH in recent years, because the important thing is that these coins gain value against BTC, not in dollars. We can also show Litecoin as an example. It has always fallen against BTC.”

“I think it will not change until 2025”

Stating that he will think that the meltdown of Ethereum and altcoins against Bitcoin will continue until 2025, Cowen made the following statements:

“Let’s be clear. My theory of holding on to Bitcoin was not very popular but it was true. In the last 2 years, no one thought Ethereum would drop to 0.04 against Bitcoin. I always said the dominance would go up, and we saw that. This doesn’t mean that the Bitcoin price won’t fall. Dominance is going up even when the price is going down. ETH/BTC broke very hard 3 times on the downside in 2016, 2019 and 2024. Therefore, as in those periods, a rise may come afterwards. I think ETH/BTC will form a bottom somewhere between now and the end of the year. So this bottom will not change until 2025 in my opinion. I’m not saying it won’t go up. In 2016 and 2019, it went up in September, but then it went down in October. There was a merge, sometimes it was said that the community was very strong, but what really mattered was the Fed’s monetary policy. None of these stories worked when prices were falling.”