Bitcoin to Hit $1.0 Million After $0.1 Million, Samson Mow Insists

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As a seasoned researcher with years of experience in the dynamic world of finance and cryptocurrencies, I find myself both intrigued and amused by the ongoing discourse surrounding Bitcoin’s price predictions and its current market fluctuations.

Samson Mow, head of JAN3 and a prominent Bitcoin supporter, has reaffirmed his prediction that Bitcoin’s value could soar to $1 million in the coming period. He referenced the film “The Big Short” to illustrate this point, as this movie portrays an influential event leading up to the creation of Bitcoin.

Currently, Bitcoin has dropped approximately 6.35% since reaching a fresh high last Friday. However, it hasn’t managed to exceed the community’s anticipation of breaking through the $100,000 mark as swiftly as expected.

“$0.1 million, then $1.0 million”

The JAN3 chief executive addressed the global Bitcoin community with a tweet, in which he doubled down on his earlier $1 million BTC price prediction within the next year. This time, Mow tweeted that he certainly expects “$0.1M then $1.0M,” adding a quote from “The Big Short” movie that talks about the collapse of the mortgage loan market in 2008. The movie was based on true events, when a few traders, including Michael Burry, shorted that market, betting on its crash.

$0.1M then $1.0M

— Samson Mow (@Excellion) November 26, 2024

Currently, the leading global cryptocurrency, Bitcoin, is being traded at approximately $93,500. This follows a partial recovery from the 8% price drop experienced on Monday. Subsequently, it was announced via Twitter that a “Black Friday Bitcoin sale” has commenced, encouraging the community to buy Bitcoin when prices are lower.

“I, Michael Saylor, have announced my intention to host a Bitcoin party at my home on one of the last days of December 2024. This is based on my belief that the price of Bitcoin could potentially reach $100,000 by then, either in November or December.

“Nocoiner mind is not ready for 6 figure Bitcoin”

Investment analyst Charles Edwards, head of Capriole Investments fund, explained his reasons for thinking Bitcoin fell short of reaching the $100,000 milestone. He cited the recent 25% daily crash of MSTR as an example of traders offloading Bitcoin. Moreover, he suggested that the general public, who are predominantly uninvested in Bitcoin, are not yet prepared for it to surpass the $100,000 mark. This price point, according to him, represents a massive sell wall.

He asserted that Bitcoin (BTC) would undoubtedly surpass the $100,000 mark again, given the right efforts, and further added that following this, such a rise could occur within mere weeks.

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2024-11-27 17:44