Get ready for a roller coaster, crypto fans! Bitcoin has hit an all-time high of $71,000. Samson Mow, former CSO of Blockstream, current CEO of Jan3, and influential figure in the crypto world, shares some insights on this milestone. But it's not all smooth sailing. A storm is brewing in the altcoin market.
Here's what he had to say:
The alarm bells are ringing!
Samson Mo, known for his bullish views on Bitcoin, has warned of the potential risks facing altcoins. While he believes Bitcoin has the potential to reach a staggering $1 million per coin, he warns about the uncertainty surrounding altcoins like Solana.
Moh pointed out that altcoins like Solana have generated strong returns, but require a more stable flow of investment than Bitcoin enjoys. He believes altcoin prices could fall significantly while Bitcoin continues to rise, which is unusual. Ever since Bitcoin broke through the previous bullish cycle ATH, altcoins are expected to explode and investors are curious to know what will happen next.
uncertainty in the air
Mo’s warning signals a break from the usual pattern of altcoins following Bitcoin’s lead. This unexpected development could force investors to rethink their strategies and risk management.
Also read: 10 must-have altcoins to strengthen your portfolio before the next crypto surge!
Bitcoin's dominance remains unwavering
Even though altcoins have grown by 66.77% this year, totaling over $1.2 trillion, Bitcoin remains the undisputed leader. Bitcoin continues to be the top choice for investors, with its value exceeding $1.4 trillion, an increase of 72%, according to data from Total 2 Index.
The growing divide: Bitcoin vs. altcoins
Mou’s cautionary words highlight the widening gap between Bitcoin and other cryptocurrencies. While some share his concerns, others argue that certain altcoins still have potential. But amidst the debate, one thing is clear: the crypto market is in turmoil, with Bitcoin leading the way and altcoins facing uncertain times.
As investors brace for potential disruption, Samsung Mo's warning serves as a reminder to tread carefully.
Read more: This altcoin delivers 4x returns and is poised to reach $100
