As a researcher with a background in cryptocurrencies and a particular interest in Bitcoin, I find Samson Mow’s prediction of an upcoming “Omega candle” intriguing. Based on my understanding of his previous comments and the context provided in this article, an Omega candle refers to a large trading candle on a Bitcoin chart accompanied by high volatility moves. This is not an uncommon occurrence in the world of cryptocurrencies, but it’s worth keeping an eye on given Mow’s reputation as a Bitcoin maximalist and his past accuracy in predicting market movements.
“I, as an observer in the crypto industry, have taken note of Samson Mow’s recent comments regarding Bitcoin‘s latest price surge. As CEO of Bitcoin-focused company Jan3 and a known Bitcoin maximalist, Mow has acknowledged the significant increase in Bitcoin’s value that pushed it back above the $71,000 mark.”
In simpler terms, Mow has once more forecasted the emergence of a significant Bitcoin trading candle, resembling an “Omega” pattern. This type of candle, as described by Mow in a recent interview and various tweets, is characterized by substantial price movements and heightened volatility on Bitcoin charts.
Omega is coming. ♎️
— Samson Mow (@Excellion) May 20, 2024
Bitcoin reclaims $71,000
As a researcher studying the cryptocurrency market, I’m thrilled to report that Bitcoin has managed to surpass the $71,000 mark once again – a price level last seen on April 1 when BTC traded at an impressive peak of $71,330. Previously, in mid-March, Bitcoin took the crypto community by surprise as it reached a new all-time high of $73,750, propelled forward by the buying power of spot Bitcoin ETFs.
The primary causes of Bitcoin’s recent surge (a 6.05% increase in just one day) can be attributed to encouraging Consumer Price Index figures and sustained investments into Bitcoin tracking exchange-traded funds over the past week. In simpler terms, the decrease in inflation as indicated by the CPI report and the consistent influx of money into Bitcoin ETFs likely contributed to the cryptocurrency’s rebound.
Michael Saylor comments on Bitcoin surge
As a Bitcoin analyst, I’d like to share my perspective on the recent price surge of Bitcoin, which brought the leading cryptocurrency near its newest all-time high. Renowned figure in the Bitcoin community and MicroStrategy founder, Michael Saylor, has also expressed his viewpoint on this topic.
Saylor hinted at upcoming price milestones for Bitcoin in a tweet on Sunday. He suggested that the cryptocurrency could surpass $69,000 first, followed by $89,000 and $90,000. The first prediction has already been met as Bitcoin reached and exceeded the $69,000 mark.
At the time of the prediction, Bitcoin was being traded slightly above $67,200. MicroStrategy’s investment in Bitcoin is substantial, with the company purchasing bitcoin chunks consistently using its excess cash starting from August 2020. Currently, MicroStrategy holds approximately 214,400 BTC, which is equivalent to over $7.5 billion in traditional currency. The latest acquisition took place in April, costing the company $7.8 million for 122 BTC.
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2024-05-21 10:58