Jan3 CEO Samson Mow shared his views on Bitcoin dominance and its impact on the future of the altcoin market, emphasizing the importance of understanding unit bias in assessing the value of cryptocurrencies.
The Impact of Unit Bias on the Cryptocurrency Market
Samson Mow expressed that unit bias negatively affects the understanding of the value of altcoins among novice investors. He explained that due to this bias, experienced traders might underestimate Bitcoin and overestimate other altcoins.
Predictions on Bitcoin Dominance
Mow stated that Bitcoin dominance will continue to rise, despite previous predictions of its decline. He suggested that altcoins are not worth their market capitalization when compared to Bitcoin.
Expert Opinions on Bitcoin's Market Share
As of the time of publication, Bitcoin dominance was at 63.66%. Many analysts believe this figure could reach 60% by late 2024, marking a potential start for altcoin season.
Samson Mow's projections regarding the growth of Bitcoin dominance highlight the importance of a critical perspective on various cryptocurrencies. Understanding unit bias could assist investors in better navigating the market.
