Opinion: Bitcoin's market share will not return to 70%, and Ethereum and other cryptocurrencies still have room for growth

ChainCatcher news, according to Cointelegraph, Benjamin Cowen, the founder of Into The Cryptoverse, stated in an interview yesterday: "I don't think Bitcoin's dominance (market share) will return to 70%; my target is 60%."

Cowen explained that during "major altcoin seasons," like in 2021, Bitcoin's dominance tends to decline, but after the market turns bearish, it "slowly" recovers to previous levels. However, in this cycle, he is more confident that even at price peaks, Bitcoin will not rebound to the same market share as in the past.

"I believe Ethereum and many other cryptocurrencies have room to grow," Cowen added, noting that Bitcoin will make its "final step" to 60% as early as September or at the latest by December.