- Benjamin Cowen revealed that he believed that altcoins could still drop by 40%-50% against BTC.
- BTC’s dominance stood at 48.54% after it increased by 0.27% over the past 24 hours.
- The total altcoin market cap was resting on the crucial support level at $575.048 billion at press time.
The CEO and co-founder of Into The Cryptoverse, Benjamin Cowen, predicted on Twitter earlier today that the “altcoin reckoning” is not over yet. Cowen also forecasted that altcoins may drop 40%-50% against the crypto market leader Bitcoin (BTC).
Altcoins still likely to drop 40-50% against #BTC before the altcoin reckoning is over.We had the SEC vs. Ripple news and BTC dominance has so far held the prior breakout level of 49%.
It’s about liquidity more than anything, and that continues trending down. pic.twitter.com/MDftLsVav8
— Benjamin Cowen (@intocryptoverse) July 23, 2023
With regards to what happened to the cryptocurrency market over the past 24 hours of trading, CoinMarketCap indicated that BTC’s dominance stood at 48.54% at press time. This was a 0.27% increase over the past day of trading.
Additionally, the majority of the top 10 altcoins by market cap sa…
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The post Benjamin Cowen Foresees Altcoins Dropping 40+% Against BTC appeared first on Coin Edition.