According to BlockBeats news on May 17, Decrypt reported that Grayscale's research director Zach Pandl stated, 'When the market is focused on macroeconomic instability and the risks facing the dollar, Bitcoin's dominance may rise; whereas when the market focuses on various applications of blockchain technology and innovations in the crypto space, Bitcoin's dominance may decline.'
Bitcoin benefits from being viewed as a 'non-sovereign asset' similar to gold, while also absorbing most of the capital inflow in the crypto market through products like ETFs approved last year.
In the next approximately 9 to 12 months, Bitcoin's market share is more likely to stabilize between 60% and 70% of the overall cryptocurrency market, rather than experiencing a significant decline. This judgment is not easy, as both Bitcoin and altcoins have different positive factors that may come into play.
From a macro perspective, we are bullish on Bitcoin; and from the perspective of technological development and user adoption, we are equally optimistic about altcoins. My basic assumption is that Bitcoin's dominance will stabilize from now on.
