Is Ethereum Ready To Outperform Bitcoin? Top Analyst Benjamin Cowen Updates ETH/BTC Outlook

Cryptocurrency strategist Benjamin Cowen is weighing in on the potential efficiency of Ethereum (ETH) relative to Bitcoin (BTC) going ahead.

In a brand new YouTube video, Cowen tells his 783,000 subscribers that the Bitcoin dominance chart (BTC.D), which tracks how a lot of the whole crypto market capitalization belongs to BTC, seems to be on a robust uptrend.

In the meantime, the crypto analyst says that the Ethereum versus Bitcoin (ETH/BTC) chart seems to be entering into the other way.

“To me, this simply appears one increased low after one other for Bitcoin dominance.

And for Ether/Bitcoin, it simply appears like one decrease excessive after one other, proper? Only one decrease excessive after one other.

Each time we get a decrease excessive, everybody screams from the rooftops that that is it and the flippening is lastly right here. You quick ahead just a few extra weeks and also you simply look again and guess what? It’s simply one other decrease excessive.”

Cowen additionally says that one of many the reason why the ETH/BTC pair isn’t falling as quick because it did in the course of the 2018-2019 bear market is as a result of quantity of liquidity sloshing within the system.

“One motive that it could be taking a lot longer as a substitute of simply happening as shortly because it did again over right here [2018/2019] is simply that there’s a lot extra liquidity within the system in the present day than there was again in 2018 and 2019…

There’s simply a lot extra liquidity within the recreation and it’s simply taking lots longer for the Federal Reserve to take away that liquidity, however the liquidity is being eliminated.”

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