ETH Price Plummets! Samson Mow Says “I Told You So!” 📉

Hark! Samson Mow, that most ardent of Bitcoin‘s champions and the esteemed chief of JAN3 – a company that lends its sagacity to nation-states in the art of BTC adoption – doth once more cast a scornful eye upon Ethereum, that second-largest of crypto-coin pretenders! 🎭

He doth pronounce judgment upon its price, for ETH hath sunk to depths not seen since the autumn of twenty and twenty-three. Alas, poor Ethereum! 🍂

Samson Mow’s Scathing Indictment of Ethereum

Lo, Samson Mow doth revisit a missive he dispatched to the Twitterverse on the twenty-third of August, in the year of our Lord twenty and twenty-two, when Ethereum dared to trade at a price nigh unto the present – a paltry $1,600 per coin. Bitcoin, on that very day, strutted about at $21,600. Now, Ethereum doth change hands for a mere $1,589, having plummeted by a lamentable 5.24% in the past day. A most grievous blow! 🤕

The last time Ethereum found itself in such dire straits was, as mentioned, in the month of October, twenty and twenty-three. A time best forgotten, methinks! 😩

Yet, prior to this descent, ETH did boast a surge of 14.26% on a Wednesday, following Bitcoin’s own vainglorious rise of 8.51% – both coins flaunting a massive green candle for all the world to see. Such fleeting triumphs! 🤣

This bullish behavior of BTC was supposedly a reaction to the suspension of trade tariffs, imposed by that most unpredictable of rulers, Donald Trump, upon some 180 nations. Especially harsh were these tariffs upon China – exceeding 100% in total – for that country dared to reject Trump’s demand to abolish its own 34% tariff on all American goods. A most tangled web of commerce! 🕸️

Mow’s Critique of Trump’s Trade War with China

In a previous tweet, Mow shared his thoughts on the immense increase of trade tariffs on China. While many believe that this move represents a victory and would bring more jobs to the USA, expanding local production, the JAN3 boss doubts that this measure would have such a positive effect on the US economy. A pox on such optimism! 😠

Mow openly opposed the overall celebratory mood about these tariffs, saying that he wants to hear how they will “revitalize jobs and production in the US.” The problem, per the JAN3 boss here is that the production connections between the two countries are too close and tight. Under the current huge tariffs from both sides, in the US “input costs for raw materials and components will be up”, a lack of engineering skills” will follow, and then there is “virtually no manufacturing infrastructure” in the USA. A dire prediction, indeed! 😟

“Who’s able to hire workers to make widgets. Main Street is pretty broke. You can’t build infra and pay workers with platitudes,” Mow stated, adding a post to his X thread. A most cynical, yet perhaps accurate, assessment! 😒