Viewpoint: The decline in the dominant position of the Bitcoin market does not mean that the "shanzhai season" is coming soon

Odaily Planet Daily News: Bitcoin's dominance in the cryptocurrency market (BTC dominance) has recently declined, but analysts point out that this does not mean that a "copycat season" is coming. Zach Pandl, the head of Grayscale Research, stated that when the market focuses on macroeconomic instability and the risks faced by the US dollar, Bitcoin's dominant position may rise; When the market focuses on various applications of blockchain technology and innovation in the field of encryption, the dominant position of Bitcoin may decline. Zach Pandl added, "In the next 9 to 12 months, Bitcoin's dominant position is more likely to stabilize at around 60% to 70% of the overall market, rather than a significant decline. In the next approximately 9 to 12 months, Bitcoin's market share is more likely to stabilize between 60% to 70% of the overall cryptocurrency market, rather than a significant decline. This judgment is not easy, as Bitcoin and altcoins each have different positive factors that may play a role. From a macro perspective, we hold a bullish attitude towards Bitcoin, while from the perspective of technological development and user adoption, we are also optimistic about altcoins. My basic assumption is that Bitcoin's dominant rate will begin to stabilize from now on. (Decrypt)