Altcoins To Capture Market Dominance This Bull Cycle Says Crypto Analyst Nicholas Merten – Here’s Why

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Crypto analyst Nicholas Merten says altcoins could be about to take a huge chunk of the digital asset market.

In an interview with fellow crypto analyst Scott Melker, Merten says he has an eye on altcoin dominance, which compares the market capitalization of the entire altcoin market to that of Bitcoin. He says the metric is a good indicator of how much risk crypto investors are willing to take in the market.

At the time of writing, altcoin’s dominance is 58%. Merten says he expects the metric to dramatically increase this cycle.

“I think we’re going up to 75% in this cycle. The last time… we hit a very similar level around April-May in 2018… A lot of people think we’re going to hit the same level here… But there are always new projects coming in… There are an endless amount of altcoins that may exist …

What we can see now is that there is an endless creation of altcoins and an inevitable reality. And I think we have to face what is just based and grounded in logic is that altcoins are going to capture more of that dominance.

Merten, who predicts an extended market cycle that will last until 2022, says he sees a scenario in which the crypto bull run ends with altcoin dominance reaching new highs.

As for Bitcoin, the analyst previously gave a slightly more cautious forecast for BTC’s bull run. He says the sheer size of Bitcoin requires a lot more monetary energy to move the price of the main crypto asset.

“The problem is, when you increase the price, you need a lot more cash. You’re really going to need these institutional buyers, real billion dollar hedge fund managers who are starting to make big bets on crypto, and we’ve seen the first signs of that… But I think we’ve got it first. need this launch rally. , after a solid period of consolidation before starting to see them dive on board.

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