Samson Mow, CEO of blockchain firm Pixelmatic, warned that there could be a serious crash in altcoins.
Speaking one day before today’s decline in the cryptocurrency market, Samson Mow warned altcoin investors. warned. Following Spot Bitcoin ETF approvals Increases in Bitcoin specifically carry altcoins up But emphasizing that this is unsustainable, Mow emphasized that he expects serious declines for altcoins.
Daily access to Bitcoin thanks to Spot Bitcoin ETFs Cash inflow between 500 million and 1 billion However, altcoins are fully benefiting from Bitcoin’s wind and that the entrances they experience may be artificial expressed.
Continuing the bearish thesis for altcoins with an example Solana’s current market value is 80 billion On the other hand, it is based on dollars Microstrategy (MSTR) The market value of a giant company like this is only at 30 billion dollarsHe reminded me that he watched.
Samson Mow, who found this situation almost “absurd”, Major altcoin correction is overdue stated:
I expect altcoins to drop in the coming weeks. They are tracking Bitcoin gains post ETF approvals, but obviously they lack the $500 million to $1 billion daily inflows that we have. This must be the main indicator that their gains are unsustainable. Solana’s market cap is $73 billion, while MSTR is $30 billion. This is ridiculous. Altcoins are overdue for a major correction.