Grayscale Research Director: Bitcoin's market share may stabilize rather than decline sharply

ChainCatcher news, according to Decrypt, Grayscale's research director Zach Pandl stated that Bitcoin's dominance may rise when the market focuses on macroeconomic instability and the risks facing the dollar; conversely, when the market focuses on various applications of blockchain technology and innovations in the crypto space, Bitcoin's dominance may decline.

Bitcoin benefits from being viewed as a "non-sovereign asset" similar to gold, and it has also absorbed a significant portion of inflows in the crypto market through products like the ETF approved last year.

In the next approximately 9 to 12 months, Bitcoin's market share is more likely to stabilize between 60% and 70% of the overall crypto market, rather than experiencing a significant decline. This judgment is not easy, as both Bitcoin and altcoins have different favorable factors that may come into play.

From a macro perspective, we are bullish on Bitcoin; from the perspective of technological development and user adoption, we are also optimistic about altcoins. My basic assumption is that Bitcoin's dominance will begin to stabilize from the current point.