Samson MOW, General Director of Jan3, claims that the domination of the Bitcoins has not yet exhausted its additional trajectory after analyzing how altcoin prices would arise with bitcoins if they were all on equal conditions of total supply.
His forecast for the domination of Bitcoin (BTC) has increased even more because the indicator has already exceeded the levels of many cryptocurrency analysts, which he will achieve by the end of 2024.
“Individual deviation absolutely destroys the uninitiated,” he said In the post of April 19. MOW suggested that the individual bias – a psychological method in behavioral economy, which suggests that people usually like to have a complete unit or supply regardless of its price and size – often causes that less experienced investors assume cheaper all altcoins, are better than having some bitcoins.
Speech questions altcoin at the level
“You can buy one twenty -one million BTC supplies for ~ USD 85,000,” said MOW. He asked: “What would happen if you remove the individual deviation from the Alts to calculate the equivalent of 1/21 million?”
He pointed out that the ether (ETH) would be priced at USD 9,200, XRP (XRP) would value at USD 5,800, and Solana (SOL) would value $ 3,400, respectively – which is an boost of about 278 746%, 470%and 2328% According to For Coinmarketcap data.
“There is no way that these Alts are worth so much,” said MOW.
Bright PO, an anonymous supporter of Bitcoins, said on January 12 that “individual prejudice is the basic basic frame of the normal mind.” “Cheaper better”.
Mow said that the “majority” of the Altcoins exploit individual prejudices, implementing a very high total supply, so market participants “cannot find out what they are buying.”
Related: XRP: Why is he exceeding altcoins – and what will happen next
Based on his calculations, MOW said that the domination of Bitcoins is “much higher”. The domination of Bitcoins – a record reflecting the participation of Bitcoins in the total market capitalization of cryptocurrencies – is often used by traders to assess when Bitcoin can approach the top of the price.
Historically, when the domination of the bitcoins decreases, it often signals the beginning of the Altcoin season, with capital flowing from Bitcoin to Altcoin to find higher phrases.
At the time of publication, the domination of the bitcoins is 63.69%, according to the trade view data.
Several cryptographic analysts forecast Bitcoin dominance to reach 60% at the end of 2024 before the start of the Altcoin season.
In August 2024, the founder of Crypttooverse, Benjamin Cowen, said: “I don’t think he returned to 70%, my Bitcoin domination goal was 60%.”
Warehouse: Altcoin season that hit Q2? Mantra Plan to gain trust: Hodler’s Digest, April 13-19
