Bitcoin has reached a new all-time high (ATH) of $124,500, with its future trajectory split between a potential surge or a temporary decline as the altcoin market heats up. According to Bitcoin pioneer Samson Mow, two scenarios are possible: Bitcoin could dominate the market, causing altcoins to drop significantly, or it could experience a brief dip as altcoin mania peaks, prompting a sell-off. Mow criticized Ethereum’s market cap, claiming it cannot sustain such high valuations compared to Bitcoin. Despite recent altcoin outperformance, Mow predicts Bitcoin will eventually reclaim its dominance following a correction. Other industry experts concur, noting that rising volumes in altcoins suggest a shift towards altcoin season, while Bitcoin may consolidate at current levels. The ongoing interest in decentralized finance (DeFi) assets might also divert attention from Bitcoin, which is being viewed as the more stable, low-volatility option in the market.

Source 🔗