Ethereum is still overvalued, Samson Mo says eth prices are low in 2023

Samson Mow, a vocal Bitcoin supporter and CEO of Jan3 Company, which helps to recruit BTC, has again filmed JAB with Ethereum, the second largest cryptocurrency.

Mow commented on the price as ETH reached its last seen low in October 2023.

Samson Mo's anti-ethereum statement

Samson Mow revisited the tweet that he published on August 23, 2022. This is $1,600 per coin when Ethereum trades at roughly the same price as it is now. Bitcoin traded that day at $21,600. Now, Ethereum is changing its hands at $1,589 after plunging 5.24% in the last 24 hours.

It was October 2023 when Ethereum fell to those lows in the last period.

But before that, ETH showed a surge in prices on Wednesday. Following Bitcoin's 8.51% rise and price trajectory, both initially printed giant green candles.

This was the BTC's response to the suspension of additional trade tariffs implemented by US President Donald Trump in 180 countries. They were particularly heavy in China – over 100% in total – the country rejected Trump's request to eliminate 34% tariffs on all American goods that enter the country.

Mow criticizes Trump's trade war with China

In a previously published tweet, Mow shared his views on a significant increase in trade tariffs in China. While many seem to believe the move will represent a victory, bring more jobs to the US and expand local production, the JAN3 boss doubts the measure will have such a positive effect on the US economy.

Mow openly opposes the overall celebration mood on these tariffs and says he wants to hear how to “enable employment and production in the United States.” The problem is that according to the boss of Jan3 here, the production connection between the two countries is too close and tight. Under the huge tariffs from both sides, the US continues to have a “higher input costs of raw materials and components,” and a shortage of engineering skills,” while the US “virtually no manufacturing infrastructure.”

“Who can hire workers to make widgets? Main Street is pretty broken. You can't build infrastructure or pay workers who have praise,” Mow said, adding a post to his X-thread.