Samson Mow, a well-known Bitcoin entrepreneur and founder/CEO of JAN3, warned that the recent gains in Ether may be short-lived as some investors move profits back into Bitcoin. According to his post, many ETH buyers already own Bitcoin — often from ICOs or insider positions — and are rotating this BTC into ETH to drive prices up. He argued that once Ether reaches a sufficiently high level, these same holders may sell, leaving a new set of buyers with the ‘monkey in hand’. He referred to the selling pressure near major price marks as the 'Holder's Dilemma'.#ETH4500Next?
The movement of the ETH/BTC pair has raised questions, with the ratio rising to around 0.036 on TradingView, up from a five-and-a-half-year low of 0.018 in April. This increase occurred as Ether surged in price, reaching $4,310 at the end of Sunday trading and recording a weekly gain of 21%. Mow explained that most ETH holders own a lot of BTC (from ICOs/insiders) and are rotating this BTC into ETH to inflate it with new narratives. Once the price is high enough, they will dump their ETH, creating a new generation of holders.