- Bitcoins’ dominance is at its highest since August.
- This was earlier predicted by Benjamin Cowen.
- According to Cowen, the best crypto to buy is Bitcoin.
People have been making fun of Benjamin Cowen, the chief executive officer of Into The Cryptoverse since he predicted that Bitcoin’s market share will continue to increase. Notably, his forecast has come true, as Bitcoin’s dominance has reached an all-time high since the third of August, particularly 42.24% of the market share.
Cowen, on the other hand, is certain that other cryptocurrencies will continue to lose value relative to Bitcoin in 2023. Regularly, he will remark something to the effect of “you don’t know what a cheap altcoin is if you entered crypto during the current boom market.”
Since the beginning of the year, he has been recommending that people keep their money in cash. His counsel has not changed. He also adds that It does not follow that just because the price of an altcoin fell by 80% that it cannot fall by another 80%.
According to Benjamin Cowen, the greatest alternative cryptocurrency to purchase, if there is any, is Bitcoin. He stresses the importance of this by saying that he is going to share the knowledge he has gained from experiencing past downturn markets. In the past, he was much too fast to invest his wealth in other cryptocurrencies.
As a result of this analysis, the cryptocurrency community on Reddit believes that Benjamin is by far the most reputable source of insight on the cryptocurrency market on YouTube. Others have the opinion that he has good intentions.
On the other hand, there are many who feel that he is trying to promote something in which he has a significant financial investment. “Not only does it create a conflict of interest, but it also opens the door to confirmation bias.”
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