As a seasoned analyst with extensive experience in the cryptocurrency market, I find Samson Mow’s latest prediction regarding Bitcoin’s price movement intriguing. Mow’s reputation as the CEO of JAN3 and his active involvement in the crypto community make his opinions worth considering.
Samson Mow, the head of Jan3, recently shared his prediction on the X platform (previously recognized as Twitter) about the price point at which Bitcoin could experience significant growth.
He also commented on the recent Bitcoin price decline that stunned the cryptocurrency market.
Here’s when the Bitcoin bull run will start, per Mow
Samson Mow spoke to the worldwide crypto audience, expressing his perspective on when Bitcoin might initiate its next significant price surge. According to Mow, this bull run could commence once Bitcoin surpasses the $100,000 mark.
Bitcoin has experienced a significant downturn recently and hasn’t yet touched the key price point that Samson Mow considers a “sham to convince retail investors that Bitcoin has reached its end,” as expressed in his post on X. In response, Mow shared this perspective on Twitter.
“The bull market for Bitcoin begins at the $0.1 million mark. This is merely a corrective measure meant to deceive inexperienced investors into believing that Bitcoin has reached its limit.”
— Samson Mow (@Excellion) July 17, 2024
In the last 24 hours, Bitcoin managed to bounce back and reached nearly $66,100, regaining the lost ground after a 4% decrease the previous day. This price surge of around 5.34% followed the news that the defunct Mt Gox exchange, which no longer operates, moved approximately $6 billion in Bitcoin to initiate compensation for the financial damages incurred by its creditors during the devastating 2014 hack.
Yesterday, cryptocurrency exchanges started receiving funds from Mt Gox in both Bitcoin and Bitcoin Cash, as per reports. Among these exchanges was Kraken, a US-based platform, which announced its intention to distribute the digital assets to creditors within the next week or two. Currently, Bitcoin is being traded at approximately $65,338, following a slight decrease today after a previous rise.
Bitcoin is going to $1 million, Mow states
On Tuesday, July 16th, Samson Mow expressed his conviction via a tweet that the value of Bitcoin would undoubtedly reach $1 million within the next year. In reaction to a comment under this post, Mow elaborated on his belief in an imminent significant price increase for Bitcoin. Regarding the Bitcoin held by Mt Gox, he estimated that around 20% may be put up for sale, while the remaining portion is likely to be transferred to cold wallets for secure storage.
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2024-07-17 11:28