Cowen: Bitcoin Has Decent Chance To Outperform Other Crypto In 2022

According to a top crypto strategist and trader, Benjamin Cowen, Bitcoin (BTC) has a good chance to outperform other crypto assets despite relatively low performance compared to altcoins in 2021.

In a recent video update, Cowen shared with the 693K subscribers to his YouTube channel that Bitcoin has a decent chance to outperform other crypto assets, but it would most likely happen during the 2nd half of 2022.

“I don’t think it’s going to happen this month or this quarter. Probably not even in Q2.

But later this year, I do think there’s a decent probability that we will see some type of a rally where Bitcoin will be outperforming almost everything else.”

The analyst backs up his prediction with the fact that BTC has in the past outperformed other top cryptocurrencies including Ethereum (ETH) as recently as 2019.

“If you go look at the Ethereum chart you can see that starting in say February 2019, Ethereum went from about $120 to about a little over $300. So maybe about a 2.5x or something…

Yes, Ethereum went up 2.5x during that time. But the thing is, during that same time period, Bitcoin went up over 321%. That’s over 4x…

What we saw back then was we saw Bitcoin go up. And it just left everything behind. And that happens when Bitcoin goes up without going sideways.”

According to Cowen Bitcoin’s performance was superior to other crypto also in September 2020, which led to BTC dominance rise to 73% of the total crypto industry.

“Starting in September of 2020 we saw Bitcoin go up fairly significantly. Going into the end of the year, it went up about 150%. And the dominance during that time went up from about 57% up to about 73%.”

At the time of writing, Bitcoin is trading at $36,499, down 10.8% on the daily window.