Samson Mow Says It’s Clear Altcoins are Overvalued Once ‘Unit Bias’ Removed
- Bitcoin maxi Samson Mow claims investors are misled by “unit bias”, preferring whole units of cheaper altcoins over fractional Bitcoin ownership.
- When adjusted to Bitcoin’s supply of 21 million, Mow calculates alternative valuations for ETH ($9,200), XRP ($5,800), and SOL ($3,400), prices he believes reveal their current overvaluation.
- Bitcoin dominance currently sits at 63%, a level not seen since 2021, with analysts suggesting an “altseason” might begin if dominance drops below 60%.
- Macroeconomic uncertainty surrounding Trump’s tariff policies creates a challenging trading environment, though Bitcoin has held relatively steady at US$87,105, up 2% over 24 hours.
Bitcoin supporter Samson Mow argues in a post on Crypto Twitter that “unit bias” – the tendency for investors to favour whole units of cheaper altcoins over fractional Bitcoin – misleads newcomers into overvaluing altcoins like XRP, Solana and Ether.
He suggests that when adjusted for supply parity with Bitcoin, these altcoins would be priced significantly higher, revealing their current valuations as inflated and supporting his view that Bitcoin dominance is only going to rise further.
You can buy one twenty-one millionth of the BTC supply for ~$85,000.
Samson Mow If you remove the ‘unit bias’, Mow says the equivalent to Bitcoin’s 1/21 million would price ETH at US$9,200 (AU$14,391), XRP at US$5,800 (AU$9,072) and SOL at US$3,400 (AU$5,318). Bitcoin maxi Mow says:
No way these alts are worth that much.
Samson Mow Related: World Liberty Financial, Backed by Trump Family, Lands $25 Million Injection
What’s BTC Dominance and Why Does it Matter?
Bitcoin dominance measures Bitcoin’s market share within the overall cryptocurrency market, expressed as a percentage of total crypto market capitalisation.
It’s a good gauge of market sentiment, with high dominance suggesting investors favour Bitcoin’s relative safety during uncertainty, while low dominance indicates greater appetite for altcoins. Traders and investors use this metric to guide portfolio allocation decisions and trading strategies between Bitcoin and altcoins.
At the time of writing Bitcoin dominance sits at 63%, a high not seen since 2021, and many experts didn’t expect it to hit so high so soon.
In past cycles, a drop in BTC dominance meant that an altseason was about to start, something analysts think could happen as soon as it drops below 60%.
Analyst Ted Pillows believes that altcoins will underperform Bitcoin in the meantime.
Trump’s Tariff ‘Shtick’ Makes Rally ‘Unlikely’
Still, the current macroeconomic uncertainty around Trump’s tariff war makes it hard to predict where things are heading. Apparently, Trump wants China to come to him to make a deal, but the Chinese don’t seem to see a need for that right now.
DonAlt, a crypto commentator with over 660k followers on Crypto Twitter, said that trading in this environment is very difficult and that conditions are unlikely to change in the foreseeable future.
Meanwhile, Bitcoin and most cryptos have held up relatively well over the Easter period, with BTC up 2% over the past 24 hours, currently trading at US$87,105 (AU$136,247).
ETH is slightly down (-0.1%) over the same period, while XRP (+1.17%) and Solana (+0.01%) trade similarly flat.
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