Pioneer Bitcoin Samson Mow predicted that Ethereum investors would return to Bitcoin when ETH prices reach high enough, potentially reversing a five -week -old ether raise.
Despite this, historic market cycle patterns may indicate differently.
“Most ETH owners have a lot of BTC (ICO/Winsider) and they turn it in BTC in ETH to pump it to new narratives (ethereum Treasury Co’s),” he said General Director of the Bitcoin Adoption Company on Sunday on Sunday.
He added that when the ether (ETH) is high enough: “they drop ETH, creating new generational bag owners, and then turn the profits back in BTC.”
“Nobody wants ETH in the long run,” said Bitcoin (BTC) Maximalist.
MOW, who has repeatedly ridiculed Altcoins, added that ETH will be “difficult” to break the ups of all time “because the closer you reach this psychological level, the stronger the pursuit of sale”, describing it as “Bagholds’ dilemma.
The ETH/BTC coefficient breaks the trend
Mow still said that Bitcoiners should not worry about the ETH/BTC ratio, which breaks the trend line down.
“Ethereum has always been a tool for these people to get more bitcoins. It’s true for ICO and now it’s true.”
The record, which is a measure of the price of the ether in terms of BTC, is currently 0.036, According to to TradingView.
He doubled for five and a half years of the lowest level of 0.018 in April, because the ether increased, while Bitcoin remained relatively static.
Anthony Sassano’s lawyer called “Senior School Bitcoin Maxis”, criticizing Ethereum, and said it was a stubborn ETH sign.
Rotation back to the Altcoins
Pillow investor and entrepreneurs offered A different view on Sunday, forecasting that the ether will reach a new peak price and cause a mini alite before the capital turns back to Bitcoin until he reaches around USD 140,000, and then the final rotation back in Ether and Altcoins.
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This is a typical pattern of cryptographic rotation played in previous years of the bull market, and Ethereum and Altcoins remain behind Bitcoins at their height.
The domination of Bitcoins has also dropped by 10% since the end of June as the Altcoins rotation duration.
“Amazing Ether pump up to 4300 USD from institutional interest in strategic reserve art has helped DEF platforms in capturing a higher TVL, while novel breeding and loan strategies attract users,” said CointeTegraph Nick Ruck, director of LVRG Research.
Weekly ETH close to the highest from 2021
Meanwhile, ETH prices have observed their highest weekly candle since November 2021, when the asset component exceeded USD 4,300 in late trade on Sunday after a weekly profit of 21%.
Ether is now only 12% of the highest level in the whole 2021 of $ 4,878, and the shoot is still very shocked with it.
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