Samson Mow Doubles Down on His $1 Million Bitcoin (BTC) Prediction

by

As an analyst with a background in financial markets and a keen interest in cryptocurrencies, I find Samson Mow’s predictions on Bitcoin reaching $1 million intriguing. His confidence in Bitcoin’s future price surge is based on several factors, including the SEC approving spot Bitcoin ETFs and the fourth Bitcoin halving.

Bitcoin advocate Samson Mow, known as @Excellion on Twitter, has recently expressed his belief that Bitcoin’s value could hit the $1 million mark.

Previously this month, Mow forecasted that Bitcoin, the most prominent cryptocurrency, would surpass the $1 million mark by the end of next year. Subsequently, during an interview, he qualified his statement, suggesting that this significant price milestone could still be reached even if it doesn’t occur in the current or following year.

Samson Mow expects Bitcoin to hit $1 million

Mow recently retweeted a message from an X user encouraging Bitcoin (BTC) to reach the $1 million mark. In response, Mow, who is a Bitcoin maximalist, joined the conversation by adding the comment: “Part of the $1M club.”

$1M gang.

— Samson Mow (@Excellion) June 27, 2024

Four days ago, I took to Twitter with the bold prediction that Bitcoin could reach $1 million. I know some crypto users are skeptical, but here’s my reasoning: Since mid-January, Bitcoin has been steadily leaving the market due to the SEC’s approval of spot Bitcoin ETFs. Following their launch, institutional investors have been purchasing massive amounts of BTC daily, averaging around 10,000 coins per day from mid-April until now. This buying frenzy far surpassed the daily production by miners.

Besides this, Moen argued that the highly anticipated fourth Bitcoin halving would occur around April this year, and indeed it happened during the second half of the month. Following the halving event, rewards for mining new blocks were decreased by half to 3.125 BTC. Concurrently, ETFs intensified their Bitcoin purchases, as Moen described it, leading to a significant increase in demand. Simultaneously, he emphasized that the April halving resulted in a Bitcoin supply shortage according to his hypothesis. Once these two “Bitcoin events” collide, Bitcoin is expected to experience substantial growth.

He thinks the event may occur unexpectedly, possibly triggered by “Omega candles” following significant “Bitcoin Godzilla candles.”

Robert Kiyosaki waiting to get more BTC

Robert Kiyosaki, a well-known investor and author, expressed in a recent tweet that he’s holding off on purchasing more Bitcoin for now as its value appears to be decreasing.

In a subsequent tweet, he mentioned Raoul Pal, the well-known investor, who currently asserts that Bitcoin is approaching “The Banana Zone.” This signifies that a significant price surge for Bitcoin is imminent.

Read More

2024-06-28 11:18