#MarketGreedRising Samson Mow: Bitcoin will either "grow" or fall with the "altcoin mania"

Bitcoin recently reached a new high of $124,500 and now has two possible paths ahead, according to Bitcoin veteran, Samson Mow.

Samson Mow: Bitcoin will either "grow" or fall with the "altcoin mania"

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Bitcoin has reached a new all-time high, and its next move will be a rise towards a new price discovery phase or it will stop to make way for the next altcoin season, said Bitcoin pioneer Samson Mow.

The price of Bitcoin

BTC

104,314 €

reached $124,500 on Coinbase in the early hours of Thursday, according to TradingView data. This movement has added 3.5% to the asset on the day and has driven the total cryptocurrency market capitalization to a record $4.26 trillion.

Samson Mow, a Bitcoin veteran, said that now there are two possible paths for Bitcoin:

"We either 'grow' or we 'omega-up', absorbing all the oxygen in the room, and altcoins drop by 30-40%", or the "altcoin mania" peaks, causing a massive liquidation as the "Bagholder Dilemma loses balance", which will temporarily push BTC down before rising again when the altcoins crash, he said on Thursday.

The Bitcoin maximalist couldn't help but take another jab at Ether

ETH

4059 €

, comparing market capitalizations and stating: "But whatever happens, it’s impossible for Ethereum to be worth 4,600,000 BTC", before adding: "this has to correct sooner or later". $BTC