Bitcoin, the world's largest cryptocurrency, has reached a new all-time high today, but the next move of this coin could go in two very different directions, according to Bitcoin pioneer and CEO of Jan3, Samson Mow.
In a post on X, Mow stated that Bitcoin could "surge like Godzilla or Omega", or the current altcoin rally would end with a massive sell-off. Mow's first path, a "Godzilla or Omega" move, describes a scenario where Bitcoin surges strongly, "sucking all the oxygen out of the market". He predicts that this will cause altcoins to drop by 30-40% as capital quickly flows back to the leading currency.
According to Mow, the alternative path is the peak of the current "altcoin frenzy," which he believes has become "too hot." He argues that this will trigger a large sell-off when the "Bagholder's Dilemma becomes unbalanced." In this scenario, Bitcoin will decrease in the short term before rising again as altcoins plunge.
This morning, the price of Bitcoin has surpassed 123,000 dollars, increasing by 3.5% in a day. The total value of all cryptocurrencies combined has reached 4.26 trillion dollars, according to CoinMarketCap.
Mow's Perspective on Ethereum
Mow also commented on Ethereum (ETH), the second-largest cryptocurrency, which is currently trading at $4,760. Mow said on X: "Ethereum cannot be worth 4,600,000 BTC," while also noting that ETH will likely struggle to break its previous all-time high. In the past 30 days, ETH has risen 58%, while Bitcoin has only increased by 3.5%.
Experts say that altcoins are currently attracting attention. Henrik Andersson, CIO at Apollo Capital, predicts that Ethereum and DeFi tokens will continue to grow thanks to favorable regulations and new applications such as real asset tokenization. Mow believes that according to the conventional model, Bitcoin will reach new highs again after the altcoin frenzy ends. He said: "Things have always been like that."
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"Samson Mow: Bitcoin is About to 'Turn into Godzilla' and Suck the Market's Oxygen, Altcoin Could Plunge 40%"
Bitcoin, the world's largest cryptocurrency, has reached a new all-time high today, but the next move of this coin could go in two very different directions, according to Bitcoin pioneer and CEO of Jan3, Samson Mow. In a post on X, Mow stated that Bitcoin could "surge like Godzilla or Omega", or the current altcoin rally would end with a massive sell-off. Mow's first path, a "Godzilla or Omega" move, describes a scenario where Bitcoin surges strongly, "sucking all the oxygen out of the market". He predicts that this will cause altcoins to drop by 30-40% as capital quickly flows back to the leading currency. According to Mow, the alternative path is the peak of the current "altcoin frenzy," which he believes has become "too hot." He argues that this will trigger a large sell-off when the "Bagholder's Dilemma becomes unbalanced." In this scenario, Bitcoin will decrease in the short term before rising again as altcoins plunge.
This morning, the price of Bitcoin has surpassed 123,000 dollars, increasing by 3.5% in a day. The total value of all cryptocurrencies combined has reached 4.26 trillion dollars, according to CoinMarketCap. Mow's Perspective on Ethereum Mow also commented on Ethereum (ETH), the second-largest cryptocurrency, which is currently trading at $4,760. Mow said on X: "Ethereum cannot be worth 4,600,000 BTC," while also noting that ETH will likely struggle to break its previous all-time high. In the past 30 days, ETH has risen 58%, while Bitcoin has only increased by 3.5%. Experts say that altcoins are currently attracting attention. Henrik Andersson, CIO at Apollo Capital, predicts that Ethereum and DeFi tokens will continue to grow thanks to favorable regulations and new applications such as real asset tokenization. Mow believes that according to the conventional model, Bitcoin will reach new highs again after the altcoin frenzy ends. He said: "Things have always been like that."