Bitcoin's Dominance in the Market Increases
Max Kaiser, a financial analyst, trader expressed the opinion that the current cryptocurrency rally will destroy the Altcoins - in the end, all capitals will smoothly flow into Bitcoin. | News Story on Adrypto
The financial analyst, trader and presenter of the Keiser Report program Max Keiser, recently gave an interview to CNBC expressed the opinion that the current cryptocurrency rally will destroy the Altcoins - in the end, all capitals will smoothly flow into Bitcoin.
In particular, Keiser noted that the cryptocurrency market is constantly evolving. For example, the emergence of Lightning and Segregated Witness (SegWit) protocols, in his opinion, helps people properly evaluate Bitcoin. These factors, along with an understanding of the benefits of scaling outside the main network, pushes investors and users to the most secure cryptocurrency, that is, to Bitcoin. Kaiser argues that the development of Bitcoin leads to a decrease in investments in Altcoins. Moreover, he believes that the time of the Altcoins is practically "over."
No, the Altcoin season will not take place,” said Kaiser, when asked about the growth potential of the Altcoin. In fact, Kaiser predicts that the Altcoins will drop the price "to kopecks" due to the fact that more and more investors will use their funds to buy bitcoins.
Bitcoin Cash, this Rogervere offspring, will cost ten bucks. Craig Wright's Bitcoin Satoshi Vision will cost ten bucks. Most of the Altcoins or all of them will cost a penny or disappear, because money will flow into Bitcoins.
Kaiser also claims that Bitcoin will dominate the market. Moreover, he noted that "the phenomenon of alcoins is over":
Look at the dominance index - again sixty percent - it moves, yes, Bitcoin moves to eighty percent, again to eighty, to ninety percent. That's where it goes. Because it is the only logical investment for those who want to deal with a crypt. In short, in my opinion, the phenomenon of altcoins is over.
It is noteworthy that this quote is fully consistent with the recent market forecast from the experienced crypto trader Peter Brandt. He predicted that, despite the continued rise in Bitcoin, the Altcoins would not be affected by the effects of this bull market. It remains only to find out whether altcoins are really “finished”.