Bitcoin Soars, But Altcoin Crash Looms: Analyst Warns of Bubble Burst

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Get ready for a rollercoaster, crypto fans! Bitcoin has just smashed through the roof, hitting an all-time high of $71,000. Samson Mow, former CSO at Blockstream, current CEO at Jan3 and influential figure in the crypto world, has some insights to share about this milestone. But it’s not all smooth sailing—there’s a storm brewing in the altcoin market.

Here’s what he has to say.

Alarm Bells are Ringing!

Samson Mow, known for his bullish views on Bitcoin, has issued a warning about the potential risks facing altcoins. While he believes Bitcoin could reach an incredible $1 million per coin, he’s sounding the alarm about the uncertainty surrounding altcoins like Solana.

I’m expecting alts to crash in the coming weeks. They’ve been tracking #Bitcoin gains post ETF approvals, but obviously they lack the $500M to $1B daily inflows we have. That should be the main indicator that their gains are unsustainable.

— Samson Mow (@Excellion) March 13, 2024

Mow pointed out that altcoins, like Solana, have seen huge gains but need a more steady investment flow than Bitcoin enjoys. He believes there might be a big drop in altcoin prices while Bitcoin keeps rising, which is unusual. Altcoins are expected to explode since Bitcoin has broken its previous bull cycle ATH, and investors want to know what’s next. 

Uncertainty in the Air

Mow’s warning suggests a departure from the usual pattern where altcoins follow Bitcoin’s lead. This unexpected twist could force investors to rethink their strategies and risk management.

Also Read: 10 Must-Have Altcoins to Amplify Your Portfolio Before the Next Crypto Surge!

Bitcoin’s Dominance Remains Unchallenged

Despite altcoins growing by 66.77% this year, totaling over $1.2 trillion, Bitcoin remains the undisputed leader. With a value surpassing $1.4 trillion and a 72% increase, Bitcoin continues to be the top choice for investors, according to data from the Total 2 Index.

The Growing Divide: Bitcoin vs. Altcoins

Mow’s cautionary words highlight the growing 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 for a wild ride, with Bitcoin leading the charge and altcoins facing uncertain times.

As investors brace themselves for potential turbulence, Samson Mow’s warning serves as a reminder to tread carefully.

Read More: This Altcoin is All Set To Hit $100 Yielding 4x Profits