In mid-August, well-known financier and bitcoin opponent Peter Schiff predicted the fall of the leading cryptocurrency below $10,000. In his opinion, the market will never see the BTC rate around $69,000 again.
Now Schiff touched on the topic of bitcoin’s declining dominance index. This index fell to 36.71% on September 9, the lowest value since the summer of 2018.
The financier attributes the reduction of BTC’s share in the cryptosphere to the sharp strengthening of the market positions of the largest altcoins. The competition between them and bitcoin is increasing. The leading digital currency is also adversely affected by increased investment in NFT and shares of cryptocompanies.