A popular crypto analyst believes that Bitcoin (BTC) will outperform altcoins in the near term.
In a new YouTube video, Benjamin Cowen tells his 936,000 subscribers that Bitcoin appears to be closely following historical cycle patterns, indicating the flagship crypto asset will have more explosive rallies than alts in the coming months.
“My general thought process for the time being is that Bitcoin should outperform most of the altcoin market.”
Cowen says that Bitcoin’s breakout rally at the start of October suggests the top digital asset by market cap will hit a cycle peak within the next three months based on historical precedence.
“Remember, normally, the pattern in post election years is a high in August, a low in September, or plus or minus a couple of weeks, followed by a rally into the market cycle top in the fourth quarter of the year. So far so good. That seems to be playing out.”
He also predicts that the total market cap of crypto will increase by about 127% from its current fair value in the coming years.
“The fair value is around $4.4 trillion. I do think we are heading to $10 trillion probably within a few years. Not by this year. I think it’ll still take a few years.”
The total crypto market cap is hovering around $4.26 trillion at time of writing. Meanwhile, Bitcoin is trading for $121,396 at time of writing, up 1.6% in the last 24 hours.
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