Bitcoin, the world’s largest cryptocurrency, has hit a new record high today, but its next move could go in two very different directions, according to Bitcoin pioneer and Jan3 CEO Samson Mow.
In a post on X, Mow said Bitcoin (BTC) could either “Godzilla or Omega up”, or the current altcoin rally culminates in a massive selloff. Mow’s first path, a “Godzilla or Omega” move, describes a scenario where Bitcoin surges dramatically, “sucking all the oxygen out of the room.” This, he predicts, would cause altcoins to drop by 30-40% as capital rapidly shifts back into the market leader.
The alternative path, according to Mow, is a peak in the current “alt mania,” which he says is already “running too hot.” He suggests this will trigger a massive selloff as the “Bagholder’s Dilemma loses equilibrium.” In this scenario, Bitcoin would briefly dip before rising again as altcoins tank.
Mow’s Take on Ethereum
Mow also commented on Ethereum (ETH), the second-largest cryptocurrency, now trading at $4,760. Mow said on X, “It’s impossible that Ethereum is worth 4,600,000 BTC,” adding that it will be hard for ETH to break its previous all-time highs. Over the last 30 days, ETH has jumped 58%, while Bitcoin rose just 3.5%.
Experts say altcoins are currently gaining attention. Henrik Andersson, CIO at Apollo Capital, expects Ethereum and DeFi (decentralized finance, crypto-based financial services without banks) tokens to keep growing due to favorable regulations and new uses like tokenizing real-world assets (turning physical items into digital tokens).
Mow believes as per its usual pattern, Bitcoin will make new highs again after the altcoin boom ends. He said, “This is just how it’s always been.”
Also Read: Bitcoin Price Surges Past $123K as Rally Targets $125K