Bitcoin will either ‘Godzilla’ up or drop on ‘alt mania’ — Samson Mow
Main Idea
Bitcoin has reached a new peak of $124,500, with Samson Mow predicting two potential paths: a surge ('Godzilla up') or a drop due to 'alt mania', followed by a rebound.
Key Points
1. Bitcoin hit a new peak of $124,500 on Coinbase, pushing total crypto market capitalization to a record $4.26 trillion.
2. Samson Mow outlined two scenarios: Bitcoin could surge ('Godzilla up'), causing altcoins to drop 30-40%, or 'alt mania' could trigger a sell-off, briefly dipping Bitcoin before it rebounds.
3. Ethereum has outperformed Bitcoin by 58% over the past 30 days, while Bitcoin gained only 3.5%.
4. Bitcoin dominance has dropped below 60% for the first time since January, indicating a potential altcoin season.
5. DeFi is gaining momentum, with total value locked at a peak and rising, fueling DeFi revenue and speculation around ETH and DeFi assets.
Description
Bitcoin recently hit a new peak of $124,500 and now has two possible paths ahead, according to Bitcoin OG Samson Mow.
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