Bitcoin has reached a new summit of all time, and its next movement will be either an increase in price discovery or a stop to make room in the opposite direction of Altcoin, explains the Bitcoin Samson Mow pioneer.
Bitcoin prices (BTC) reached $ 124,500 on Coinbase at the start of tradings on Thursday, according to TradingView. This decision added 3.5% to the active day and pushed the market capitalization of total cryptography to a record summit of 4.26 billions of dollars.
Bitcoin Og Samson Mow said there were now two possible paths for Bitcoin:
“We, Godzilla or Omega, lets all the oxygen of the room, and altcoins drop 30 to 40%” or “alt mania” peaks, triggering a massive sale while the “dilemma of the bag loses balance”, which will see the BTC soak briefly before going up when the Altcoins tank, he said on Thursday.
The Bitcoin maximalist could not resist having another bash in Ether (ETH), by comparing the stock market capitalizations and declaring: “But whatever it is, it is impossible that Ethereum is worth 4,600,000 BTC”, before adding, “it must correct sooner or later.”
The Dilemma of the Fundaler
Mow first discussed the “Bagholder dilemma” earlier this week when he hypothesizes that Ethereum investors will soon start to pour and return to Bitcoin.
He said it will be difficult for ETH to break the heights of all time, because “the more you reach this psychological level, the stronger the desire to sell”. The same premise does not seem to apply to Bitcoin, according to Mow.
Ether has surpassed bitcoin by a huge margin in the last 30 days, increasing by 58% while BTC gained only 3.5% over the same period.
Altcoins run too hot
The CEO of Jan3 also considered that there will be more peaks of all time Bitcoin, “but I think we will see a step back because the alts are too hot now.”
Once “Altcoin Mania” passes, Bitcoin takes off, “that’s how it has always been,” he said.
Bitcoin domination has dropped by around 10% since the end of June, falling below 60% for the first time since January this week, according to TradingView. A sharp drop in the domination of bitcoin was historical indicators that the Alts-season is imminent.
Time for Defi is now
Some industry experts have agreed that the interest of investors for Bitcoin could cool, decentralized finance potentially taking the spotlight.
“We believe that the assets of ETH and DEFI will continue to surpass here, supported by the regulatory environment and the tokénisation of RWA (active active world),” said Cointelegraph, director of investments at Apollo Capital, Henrik Andersson.
The total value locked in Defi is a peak and increases quickly, which feeds the DEFI income, he said, adding:
“We are entering a new paradigm where BTC is the low beta asset, its 30 -day annualized volatility collapsed at 23%.”
Meanwhile, the director of LVRG Research, Nick Ruck, told Cintelegraph that BTC could consolidate near the current levels, “the decline of the domination and the increase in the volumes of Altcoin suggest that an allusity season begins, led by the outperformance of ETH and the speculative entries in the DEFI bows.”
Review: Altcoin season 2025 is almost there … but the rules have changed