"Is that true? After all, you have to wait a long time, it seems, to feel the profit."
Benjamin Cowen, a leading cryptocurrency analyst, believes that the altcoin will bounce back higher even though its price has bled significantly due to the Bitcoin (BTC) correction, but that climb may not happen before February 2025.
Historically speaking, the ALT/BTC pair acts as an oscillator and it remains above its long-term lows even though the price has seen a recent rally.
Over the past week, the ALT/BTC pair has rebounded from 0.36 to 0.40, Cowen commented, adding that the 0.36 level marks the lowest point in the ALT/BTC pair in recent years suggesting that the previous altcoin season may have been premature.
Before the Federal Reserve (Fed) cut interest rates, the ALT/BTC pair in 2019 experienced an increase from 0.25 to 0.42, causing many to speculate that BTC's dominance had peaked.
According to Cowen further, significant bullish movements in the ALT/BTC pair have historically occurred several years after halving, so here it can be seen that there is a greater opportunity for the altcoin's ascent to begin in 2025 than in 2024.
He added that interest rate cuts by the Fed are unlikely to happen this year, so liquidity is expected to remain tight again.
Cowen concluded by stating that the ALT/BTC pair will likely continue to fall until the Fed announces interest rate cuts and resumes quantitative easing (QE).