Altcoin unit bias 'absolutely destroying' crypto newbies — Samson Mow
Summary
Bitcoin CEO Samson Mow asserts that Bitcoin dominance has not yet reached its peak, predicting further increases. He highlights the impact of unit bias, where investors prefer owning whole units of cheaper altcoins over fractions of Bitcoin, leading to misvaluations. Mow calculates that if altcoins were assessed without unit bias, Ether (ETH) would be valued at $9,200, XRP at $5,800, and Solana (SOL) at $3,400, suggesting these valuations are unrealistic. He claims that most altcoins exploit unit bias by having high total supplies, confusing investors. Currently, Bitcoin dominance stands at 63.66%, with analysts previously expecting it to peak at 60% by late 2024 before an altcoin season begins.
