Samson Mow, a well-known Bitcoin entrepreneur and founder/CEO of JAN3, warned that recent gains in Ether could be short lived as some investors move profits back into Bitcoin.
According to his post, many ETH buyers already hold Bitcoin — often from ICOs or insider positions — and are rotating that BTC into ETH to drive prices up.
He argued that once Ether reaches a high enough level, those same holders may sell, leaving a fresh set of buyers holding the bag.
Trending: State Of Emergency Declared In Wisconsin
“No one wants ETH in the long run,” he wrote, and he called the selling pressure near big price marks a “Bagholder’s Dilemma.”
ETH/BTC Moves Raise Questions
Based on reports, the ETH/BTC ratio has jumped to about 0.036 on TradingView, up from a five-and-a-half-year
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!