Samson Mow, the CEO of JAN3 and a staunch Bitcoin maximalist, has presented a provocative outlook on when the world's leading cryptocurrency will resume its powerful bull run. His predictions diverge from those who are bullish on both Bitcoin and Ethereum, proposing specific market conditions that must be met before BTC truly surges.
Mow's Thesis on Bitcoin Dominance
According to Mow, Bitcoin's price is unlikely to escape its current lows until its market dominance experiences a significant increase. He explicitly disagreed with investor Dan Tapiero, who holds a positive outlook on both Bitcoin and Ethereum's potential for further growth. Mow, a well-known proponent of Bitcoin potentially reaching $1 million, firmly believes that this shift in market dominance is a critical prerequisite for Bitcoin to reignite its rally.
The Pivotal Role of Ethereum
Central to Mow's forecast is his strong stance on Ethereum's market performance. He characterises ETH's recent activity as the "final stages of this recent pump and dump." Mow posits that Bitcoin's highly anticipated run will only commence once Ethereum returns to its "long term down trend against Bitcoin." This perspective highlights an inverse relationship, where Bitcoin's upward momentum is seen as contingent upon Ethereum's relative decline in the market.
