Altcoins will sooner or later begin to grow again, and the share of bitcoin in the cryptocurrency market will begin to decline to approximately 50-60%, analysts at Binance Research believe.

According to the bulletin published by the analytical division of the cryptocurrency exchange Binance, bitcoin will not be able to maintain the current level of market dominance. Currently, the first cryptocurrency accounts for about 70% of the entire cryptocurrency market capitalization. But in the future, the dominance index will begin to decline.

Analysts at Binance Research note the growing interest of investors in altcoins, which are traded currently at the bottom.

“In our July edition, we stated that we eventually believe BTC dominance will go back down to the 50-60% range. We still believe in this, partly because BTC dominance was below 60% for an extended period, from May 2017 until June 2019,” the bulletin reads.

“It has only been in the past three months or so that BTC dominance has shot up so dramatically, and the crypto-world has found its way of making everyone feel like a prisoner of the moment.”

Many well-known crypto analysts argue that altcoins will not be able to recover from such a dramatic fall, which is even stronger in bitcoin than in dollar terms.

At the same time, Binance Research analysts add that in the short term, bitcoin will most likely be able to maintain a 70% dominance in the cryptocurrency market.

Previously, Binance CEO Changpeng Zhao tweeted that increasing bitcoin dominance has a negative effect on altcoins only in the short term. According to him, the rising price of bitcoin helps the mass adoption of crypto, and it is also good for altcoins in the long term. Altcoins prices are still very dependent on the projects themselves.