According to Mow, Ether will face obstacles to overcome its historical maximum.
For the specialist, Bitcoiners should not fear for a possible bearish break in Eth/BTC.
Bitcoin’s businessman and defender (BTC) Samson Mow lit a debate about Ether (ETH), with a series of publications in which he warns that it is not an asset to maintain in the long term.
In his analysis, Mow pointed out that, according to his vision, The current movement of the ETH/BTC pair responds to a strategy of Ether’s great holderswho also have considerable amounts of Bitcoin. “They are rotating that BTC to ETH to inflate it with new narratives,” he said.
For the CEO of Jan3, once the price of Ether reaches a high enough level, the largest holders of the asset “will sell their ETH, creating a new generation of Bagholders (investors trapped in losses) and carrying the profits to BTC.”
In short, Mow warns That this cycle will favor those who sell on time, while many will remain stagnant assets that they will not be able to sell without losses. The specialist’s conclusion is overwhelming: «Nobody wants ETH in the long term. Plan accordingly ».
Also clarified that Ether will be difficult to overcome his historical maximumsbecause “the more he approaches that psychological level, the greater the pressure to sell.”
It is worth noting that, according to data of tradingView, Ether reached its historical maximum almost four years agoon November 10, 2021, when its price reached almost $ 4,900 (USD).
Finally, the investor affirmed That Bitcoiners should not worry about a possible rupture of the bearish trend in ETH/BTC, since in their viewing «Ethereum has always been a vehicle for certain actors to obtain more bitcoin. That was during the ICO and it is still like this today ».
The community response
The reactions soon arrived. Some users They pointed out that this type of behavior “historically only occurs at the end of a bullish market”, which could anticipate a cycle change.
Other users They argued That the current narrative about “Ethereum treasures” are only temporary impulses designed for insiders to sell their positions, transforming momentary “hype” into BTC, whose value lies in its unchanging scarcity.
These allegations refer to the fact that large organizations or projects are accumulating ETH as a reserve of value, which generates market enthusiasm and attracts new buyers.
Despite criticism and warnings, Institutional investment in ETH is growing strongly. As Cryptonotics reported, currently more than 2.7 million ETHER, equivalent to about 11.3 billion dollars, are in the hands of corporations, funds and organizations that keep it as a value reserve. Companies such as Bitmine Immersion and Sharplink (SBET) lead this accumulation, managing hundreds of thousands of ETH each.
However, some people They qualified to Ether as “the mother of all crypto deceptions”, arguing that “it is not truly scarce or decentralized,” and remarking that “any product that is not Bitcoin is simply a mechanism for its creator to acquire more BTC.”
The truth is that just a few days ago MOW reinforced his maximalist position by stating that, in a system based on what he calls “Bitcoin standard”, there is no space for projects like Ether. Thus, the entrepreneur believes that firms that include BTC in their balances must show a total commitment to this strategy, since any diversification signal generates distrust between investors.
