Samson Mow: Bitcoin Could “Godzilla” to New Highs or Pull Back on Altcoin Mania
Bitcoin’s recent climb to a new all-time high of $124,500 has sparked two possible scenarios for the market’s next move, according to Bitcoin pioneer Samson Mow.
On Thursday, Bitcoin traded at $123,367 after briefly touching $124,500 on Coinbase, boosting total crypto market capitalization to a record $4.26 trillion. Mow says the path forward is binary:
“We Godzilla or Omega up, suck all the oxygen out of the room, and altcoins drop 30–40%,”
or
“Alt mania peaks, triggering a massive sell-off as the ‘Bagholder’s Dilemma’ loses equilibrium — BTC dips briefly before rebounding when alts tank.”
Two possible paths for #Bitcoin now.
1⃣ We Godzilla or Omega up, suck all the oxygen out of the room, and alts drop 30-40%.
2⃣ Alt mania peaks, triggering a massive selloff as the Bagholder’s Dilemma loses equilibrium, BTC goes down briefly then up again, as alts tank.
— Samson Mow (@Excellion) August 14, 2025
The “Bagholder’s Dilemma” and Ethereum
Mow has repeatedly warned about what he calls the Bagholder’s Dilemma — the idea that Ethereum investors will sell heavily as it nears all-time highs, rotating back into Bitcoin.
He argues that this dynamic doesn’t apply to BTC, but will limit ETH’s upside. Over the past 30 days, ETH has surged 58%, far outpacing Bitcoin’s 3.5% gain.
Despite ETH’s rally, Mow criticized its valuation, claiming:
“It’s impossible that Ethereum is worth 4,600,000 BTC. This has to correct sooner or later.”
Altcoins Running Hot
Mow, CEO of Jan3, expects more Bitcoin all-time highs but warns that overheated altcoins could spark a pullback before BTC’s next leg up. Bitcoin dominance has dropped roughly 10% since late June, dipping below 60% for the first time since January — a classic sign that altseason is underway.
DeFi and Institutional Shifts
Some market analysts agree Bitcoin may consolidate while other sectors take the spotlight.
Henrik Andersson, CIO at Apollo Capital, believes ETH and DeFi assets will continue to outperform, supported by regulatory clarity and the rise of real-world asset (RWA) tokenization.
Nick Ruck of LVRG Research added that declining BTC dominance and rising altcoin trading volumes point to an ongoing altseason, led by ETH’s outperformance and speculative flows into DeFi tokens.
Meanwhile, Bitcoin’s annualized 30-day volatility has dropped to 23%, cementing its role as the market’s low-beta anchor asset — at least for now.
