Ethereum

Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/will-bitcoin-maintain-its-market-dominance" data-wpel-link="internal" rel="noopener noreferrer nofollow">Will Bitcoin Maintain Its Market Dominance?</a><br></p>
<p style="text-align: justify">In a recent analysis, cryptocurrency expert Benjamin Cowen forecasts that <a href="https://en.bitcoinhaber.net/bitcoin-plunges-as-market-tension-rises-over-federal-reserve-meeting" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.bitcoinhaber.net/bitcoin-holds-steady-amid-market-fluctuations" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>) will likely continue to outperform altcoins in the near term. He emphasizes Bitcoin’s enduring leadership role within the digital currency landscape.</p>
<h2 style="text-align: justify" id="how-does-ethereum-compare-to-bitcoin">How Does Ethereum Compare to Bitcoin?</h2>
<p style="text-align: justify">Cowen closely examines Ethereum (ETH) in relation to Bitcoin using the ETH/BTC trading pair for insights into altcoin performance. As the most substantial altcoin by market cap, Ethereum’s standing serves as a barometer for altcoins’ performance against Bitcoin. Cowen predicts that the ETH/BTC pair will stabilize, inferring an increase in Bitcoin’s dominance.</p>
<h2 style="text-align: justify" id="what-is-the-key-resistance-level-for-bitcoin">What Is the Key Resistance Level for Bitcoin?</h2>
<p style="text-align: justify">Cowen notes that Bitcoin’s critical resistance lies between $63,000 and $64,000, identified through the 200-day moving average. He argues that breaching this range could initiate a significant upward trend for Bitcoin.</p>
<ul>
 <li>Cowen anticipates Bitcoin’s market dominance could reach 60% by Q4.</li>
 <li>He warns that many altcoins may decline against Bitcoin if this dominance increases.</li>
 <li>The $63,000-$64,000 range is crucial for Bitcoin’s potential rally.</li>
 <li>Current Bitcoin trading sits around $63,224, reflecting a slight daily rise.</li>
</ul>
<p style="text-align: justify">As Bitcoin inches toward this pivotal resistance, traders may see a shift in market dynamics that could favor Bitcoin over altcoins. The cryptocurrency market is poised for potential volatility, depending on whether Bitcoin can surpass this critical threshold.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/will-bitcoin-maintain-its-market-dominance" data-wpel-link="internal" rel="noopener noreferrer nofollow">Will Bitcoin Maintain Its Market Dominance?</a></h5>

Will Bitcoin Maintain Its Market Dominance?

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