Renowned cryptocurrency strategist Benjamin Cowen has made a significant prediction regarding the future of Bitcoin and altcoins in 2024. According to Cowen, Bitcoin is likely to outshine altcoins throughout the year. This forecast was shared with Cowen's 884,400 followers on the social media platform X.
One of the key factors influencing Cowen's projection is Bitcoin's current market dominance, which stands at around 60%. He suggests that this level of dominance points towards a greater risk for altcoins, particularly in terms of value depreciation in comparison to Bitcoin.
This anticipated shift in the cryptocurrency landscape suggests investors should be cautious of potential value losses in altcoins while considering opportunities presented by Bitcoin's market strength.
