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Standard Chartered Bank analyst: This year, the expected market share of Bitcoin is forecasted to rise to the range of 55-60%.
Standard Chartered Bank analyst Geoff Kendrick stated that the growth of Bitcoin has, to some extent, elevated the entire cryptocurrency industry. It is anticipated that by 2024, Bitcoin's market share will increase from the current 50% to the range of 55-60%. Alexander Kuptsikevich, a senior market analyst at FxPro, pointed out that the growth of Bitcoin provides cryptocurrency investors with more "buying power" since Bitcoin is often used as collateral for exchange margin positions. This, in turn, contributes to the growth of altcoins. Alexander Kuptsikevich added that the weekend saw a concentration of gains in the cryptocurrency market, particularly in altcoins, with Ethereum rising by 2.9%, and BNB and Dogecoin increasing by approximately 7%. |
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