Is Ethereum Ready to Outperform Bitcoin? Top analyst Benjamin Cowen updates ETH/BTC outlook
Cryptocurrency strategist Benjamin Cowen gives his thoughts on the future potential development of Ethereum (ETH) versus Bitcoin (BTC).
In a new YouTube video, Cowen tells his 783,000 subscribers that the Bitcoin Dominance Chart (BTC.D), which shows the share of total crypto market cap in BTC, appears to be in a strong uptrend.
Meanwhile, the crypto analyst says Ethereum’s chart appears to be trending in the opposite direction versus Bitcoin (ETH/BTC).
“It looks to me like bitcoin dominance is only going to increase.
And for Ether/Bitcoin, it just looks like lower high after lower high, right? Just one lower high after another.
Every time we hit a deeper climax, everyone yells from the rooftops that it’s time and the flippening is finally here. You fast forward a few more weeks and just look back and guess what? It’s just another lower high.”
Cowen also says that one of the reasons the ETH/BTC pair isn’t falling as fast as it did during the 2018-2019 bear market is because of the amount of liquidity sloshing around in the system.
“One reason it might take a lot longer than just sinking as fast as it did here [2018/2019] It’s just that there’s a lot more liquidity in the system today than there was in 2018 and 2019…
There’s just a lot more liquidity involved and it just takes a lot longer for the Federal Reserve to remove that liquidity, but the liquidity is being removed.”
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