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Samson Mow, a Bitcoin supporter and the JAN3 chief executive officer, has addressed the Bitcoin community as he quoted his own tweet published last week. That X post contained a bullish prediction for BTC and a bearish one for Ethereum.
Mow reaffirms his ultra-bearish ETH prediction
On Aug. 22, Samson Mow shared his take on when Bitcoin will reverse and start running upward again. Per the JAN3 CEO, it will happen once BTC market dominance increases again. Recently, it has declined to 58% as Ethereum was surging in price and other altcoins followed suit.
However, Mow pointed out that Ethereum was “in the final stages of this recent pump and dump.” Once ETH resumes its “long-term downtrend against Bitcoin,” BTC will rally again.
Today, he cited that tweet, saying, “Not to say I told you so, but…” He stated that the largest altcoin, Ethereum, has shed 12.7% since Sunday, losing the $4,956 level and landing at $4,327 on Monday.
By now, ETH has rebounded a little and is changing hands at $4,478.
Ethereum follows Bitcoin closely
However, Ethereum has closely followed the price movement of Bitcoin. The latter has lost 4.77% since Sunday, and by now has regained 1.08%. Bitcoin shed 7.08% on Monday.
Currently, BTC is trading at $110,171 per coin.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team