Ethereum Faith Fading? Mow Says Holders Will Shift To Bitcoin

Samson Mow, a well-known Bitcoin advocate, warned that recent gains in Ether could be short lived as some investors move profits back into Bitcoin. According to his post, many ETH buyers already hold Bitcoin — often from ICOs or insider positions — and are rotating that BTC into ETH to drive prices up. Related Reading: Ethereum Hits $4,300, Restoring Vitalik Buterin’s Crypto Billionaire Status He argued that once Ether reaches a high enough level, those same holders may sell, leaving a fresh set of buyers holding the bag. “No one wants ETH in the long run,” he wrote, and he called the selling pressure near big price marks a “Bagholder’s Dilemma source: https://www.newsbtc.com/news/ethereum/ethereum-faith-fading-mow-says-holders-will-shift-to-bitcoin/