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Samson Mow Predicts Ethereum Investors Will Pump and Dump ETH, Return to Bitcoin
Ethereum has risen 20% in the past week and reached an all-time high of $4,891.70, but Bitcoin expert Samson Mow warns that this rally will trigger a sell-off as investors shift profits back to Bitcoin. Mow wrote on X that "no one wants ETH for the long term" and predicts a cycle of "pump and dump."
He said: “When they reach a high enough price, they will sell off ETH, creating new generation holders, then reinvest the profits back into BTC.” The price of ETH has increased nearly 1% in the past 24 hours and is trading at $4,267 as of 5:50 AM EST, nearly 13% lower than the all-time high set on November 16, 2021.
He said: “When they reach a high enough price, they will sell off ETH, creating new generation holders, then reinvest the profits back into BTC.” The price of ETH has increased nearly 1% in the past 24 hours and is trading at $4,267 as of 5:50 AM EST, nearly 13% lower than the all-time high set on November 16, 2021.
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