The Bitcoin Pioneer Samson Mow predicts that Ethereum investors will return to Bitcoin once ETH prices are high enough, potentially reversing an increase of five weeks of ether.
However, historic market cycle models could indicate the opposite.
“Most ETH holders have a lot of BTC (ICO / Insiders) and they turn this BTC in ETH to pump it on new stories (Ethereum Treasury Co’s),” said the CEO of the Bitcoin adoption company on Sunday.
He added that once and Eher (ETH) is high enough, “they will empty their ETH, creating new generational bags, then turn the BTC gains.”
“No one wants long -term ETH,” said the maximalist Bitcoin (BTC).
Mow, who has repeatedly ridiculed altcoins, added that it will be “difficult” for the ETH to break the peaks of all time “because the more you reach this psychological level, the stronger the desire to sell”, describing it as a “dilemma of an aggressor”.
The ETH / BTC ratio breaks the trend
Mow has continued to declare that Bitcoins should not be concerned about the ETH / BTC ratio breaking the downward trend line.
“Ethereum has always been a vehicle for these people to get more bitcoin. It was true for ICO, and it’s true now. ”
The metric, which is a measure of the price of the ether in terms of BTC, is currently 0.036, according to TradingView.
He has doubled for his lower and a half years of 0.018 in April when Ether jumped while Bitcoin remained relatively static.
Ethereum defended Anthony Sassano, label the post as “old -fashioned Bitcoin Maxis” criticizing Ethereum, and that it was an optimistic sign for ETH.
Rotation in Altcoins
The investor and the TED entrepreneur pillows offered a different perspective on Sunday, providing that the ether will reach a new peak price and trigger a mini-season of Alteste, before the capital returns to Bitcoin until it reaches around $ 140,000, followed by final rotation in ether and altcoins.
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It is a typical crypto rotation model that took place in the previous bull market years, with Ethereum and Altcoins behind Bitcoin with their cycle peaks.
Bitcoin domination has also decreased by 10% since the end of June while rotation in Altcoins continues.
The “incredible pump of Ether at $ 4,300 of the institutional interest for the strategy reserve games, helped the DEFI platforms to acquire higher TVLs, while” innovative agriculture and ready to withdraw users’ strategies, “said Nick Ruck, director of LVRG Research, told Cowtelegraph.
Weekly ethn closed the highest since 2021
Meanwhile, the prices of the ETH have seen their highest weekly candles close since November 2021 while the asset exceeded $ 4,300 in late negotiated Sunday after a weekly gain of 21%.
Ether is now at only 12% of its 2021 summit of $ 4,878, and the momentum is still very with it despite the derision of Bitcoin Maxis.
Review: How Ethereum Treasury Companies could trigger “Defi Summer 2.0”
