As the price of Bitcoin teeters on the edge of dropping below $100,000, cryptocurrency expert Samson Mow has attributed this recent downturn to new investors cashing in their profits. This perspective diverges from earlier narratives suggesting that long-term investors, often referred to as OGs, are selling off their holdings due to increasing institutional and governmental interest.
Mow pointed out that the current slump in Bitcoin prices is primarily driven by a wave of profit-taking among investors who acquired their assets within the last 12 to 18 months. In a recent post on X, he elaborated that this group includes both direct holders of Bitcoin and those invested in exchange-traded funds (ETFs). The strategy of recent investors has been to sell their holdings in order to secure 20% to 30% gains in fiat currency, especially amidst growing speculation of a potential bear market.
Data from CoinMarketCap indicates that this sell-off has caused Bitcoin”s price to plummet towards the $100,000 threshold, a notable decline from its peak exceeding $126,000. The intensity of the selling pressure has reportedly led to the largest liquidation event in the history of cryptocurrency back in October. Mow”s insiders have revealed that the current cohort of sellers became apprehensive after numerous analysts suggested that the market might peak in 2025 during this cycle.
These fears were further exacerbated by claims that OG investors were offloading their assets after becoming disillusioned by the heavy institutional adoption that has been observed since the beginning of the year. Mow characterized these newer investors as speculators who are more reactive to market news than committed holders who understand the foundational principles of Bitcoin.
In contrast to the selling behavior of new investors, Mow emphasized that early Bitcoin adopters continue to hold substantial quantities of the cryptocurrency, taking advantage of the selling frenzy to acquire more assets from these newer participants. He remains optimistic, suggesting that the depletion of assets among new investors could signal an impending rally for Bitcoin.
While Mow refrained from providing a specific price prediction for the end of the year, he did express confidence that 2026 would be a critical year for Bitcoin, potentially heralding a significant upward movement. “This cohort of sellers is also depleted, and HODLers with conviction have now taken their coins, which is always the best case scenario,” Mow stated. He previously forecasted that Bitcoin could reach $1,000,000, driven by adoption at the nation-state level and strategic reserves for the leading cryptocurrency.
