Summary
- Samson Mow recently claimed that Ethereum's price rise is being driven by Korean retail investors' buying pressure.
- He said Korean retail capital forms about $6 billion of buying pressure.
- Mow warned that the investment fervor amid a lack of understanding of the ETH/BTC chart may not end well.
Samson Mow, CEO of Bitcoin technology company Jan3, claimed that the recent price rise of Ethereum (ETH) is being driven by buying pressure from Korean individual investors.
On the 6th (local time), Samson Mow wrote on X (formerly Twitter), "The only factor keeping Ethereum's price at its current level is Korean individual investors, that is, buying pressure from Seohak Ants," saying, "The Korean retail capital propping up companies buying ETH is about $6 billion." He went on, "ETH-related influencers are visiting Korea to market to individual investors," and warned, "But Korean individual investors, with no knowledge of the ETH/BTC chart, believe they are buying the next strategic investment destination. It will not end well."
Samson Mow is a former early Bitcoin (BTC) developer and is known as a strong 'Bitcoin Maximalist.'
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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