ETH Faces Potential Downturn as Bitcoin Dominates the Spotlight
Main Idea
Samson Mow, CEO of JAN3, predicts a potential decline in the ETH/BTC pair to 0.03 or lower, arguing against Ethereum surpassing Bitcoin, while highlighting a significant upcoming unstaking of 768,400 ETH.
Key Points
1. Samson Mow disputes the 'flippening' narrative, suggesting Ethereum will not surpass Bitcoin and predicts a drop in the ETH/BTC pair to 0.03 or lower.
2. 768,400 ETH (worth approximately $3.5 billion) is set for unstaking within 13 days, which could shift funds to Bitcoin.
3. Tom Lee's prediction that Ethereum should be valued closer to $6,000 has faced criticism, partly due to his company's Bitcoin logo despite holding Ethereum reserves.
4. At the time of writing, ETH was trading at $4,639, a 2.64% decrease in 24 hours, with the ETH/BTC pair at 0.03900.
Description
Mow disputes Ethereum surpassing Bitcoin, predicting a dip in the ETH/BTC pair. He highlights potential selling pressure from unstaking significant ETH amounts. Continue Reading: ETH Faces Potential Downturn as Bitcoin Dominates the Spotlight The post ETH Faces Potential Downturn as Bitcoin Dominates the Spotlight appeared first on COINTURK NEWS .
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