Ethereum’s price reduction during the current timeframe has led Bitcoin supporter Samson Mow from JAN3 to reissue his criticism. ETH currently trades at $1,589, which matches its previous October 2023 values after its 5.24 percent price decrease within the past day.
Mow states that the current ETH value matches its August 23, 2022, market price of approximately $1,600. Bitcoin maintained a value of $21,600 when the market operated. Mow uses this Ethereum-Bitcoin value analysis to validate his argument that Ethereum remains excessively priced in the market.
Mow Doubles Down on Ethereum Criticism, Citing Price Stagnation
Mow reported on X in 2022 to defend his position that Ethereum has maintained minimal progress throughout almost two years. Mow frequently attacks Ethereum’s structure because he doubts its centralized nature, complicated operations, and ambiguous strategic path.
Earlier on Wednesday, Ethereum prices achieved a peak of 14 percent growth, just like Bitcoin, which had reached 8.5 percent before the momentum subsided rapidly. The United States Trade policy generated a short-term price increase after it decided to lift specific China-related trade restrictions implemented by former President Donald Trump.
The price gains that Ethereum achieved turned out to be temporary. ETH’s solo upward pressure disappeared immediately following its surge, thus returning to the price it had in October 2023, indicating market participants did not maintain their support.
Mow Criticizes Tariff Strategy as Market Reacts
In another thread, Mow addressed U.S. trade policy, voicing concern over the latest round of tariff decisions under former President Donald Trump. According to Mow, these measures will not deliver the intended benefits of job creation or industrial revival in the United States.
According to him, the extensive industrial connection between U.S. and Chinese manufacturing operations reduces the effectiveness of imposed tariffs. The increase in input costs may lead U.S. manufacturers to struggle to keep operations running efficiently because they lack the workforce and facilities needed.
“Main Street is pretty broke. Mow declared through his X platform posting that attempting to construct infrastructure and compensate staff members with good intentions instead of concrete funding proves futile.
Conclusion
The recent price decline of Ethereum shows Samson Mow has re-emerged in his criticism of its market value. Both Ethereum and crypto sentiments encounter increased examination because of market instabilities, economic pressures from tariffs, and continuous structural problems.
