Analyst who predicted bitcoin’s growth to $ 1 million warns investors of danger

Samson Mow, a well-known figure in the crypto space and a proponent of a future in which bitcoin reaches $ 1 million per coin, has issued a warning against investing in alternative cryptocurrencies.

Mouw suggests that BTC is breaking away from traditional market correlations and will soon separate from the broader cryptocurrency landscape as well. According to Mou’s analysis, investors in altcoins may find themselves in a precarious position as bitcoin continues to grow.

#Bitcoin has decoupled from the legacy markets.

— Samson Mow (@Excellion) February 26, 2024

As the analyst explained, although investors hope that their favorite alternative coins will follow the trajectory of bitcoin, the reality may be quite different. Mou suggests that altcoins may not experience similar growth as BTC rises.

Mou’s warning emphasizes the growing gap between BTC and other cryptocurrencies in the eyes of some prominent industry figures. As bitcoin’s dominance and price continue to grow, questions arise about the future of alternative cryptocurrencies and their ability to keep up with the market leader.

As a reminder, the flagship crypto asset soared to new heights, breaking the $ 57,000 mark early on Tuesday morning. This price level, which has not been seen since November 2021, marks a significant revival of the leading cryptocurrency. It is noteworthy that the jump in bitcoin’s price has caused significant activity on US spot bitcoin ETFs, with the exception of Grayscale’s GBTC.