Bitcoin to $1 Million Next Year Far More Likely Now: Samson Mow

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As a seasoned crypto investor with a keen eye for market trends and a portfolio that mirrors the diversity of Bitcoin’s blockchain, I find myself intrigued by Samson Mow’s bold prediction of Bitcoin hitting $1 million within the next year. Having witnessed the crypto market’s rollercoaster ride over the past decade, I can attest to its unpredictability and potential for exponential growth.

Samson Mow, a strong advocate for Bitcoin and CEO of the JAN3 firm which assists countries in integrating Bitcoin, reinforced his confident forecast that Bitcoin will reach $1 million, emphasizing this point to the worldwide cryptocurrency community.

He offered numerous significant factors that could potentially propel the world’s top cryptocurrency to achieve a large price increase.

Mow now certain Bitcoin will hit $1 million next year

According to the head of JAN3, his confidence in Bitcoin exceeding $1 million over the next year has significantly increased. In response to a query regarding factors that could cause Bitcoin to behave like a traditional safe-haven asset, Mow indicated that it’s hard to predict with certainty at this moment if such a shift will occur.

$1M #Bitcoin in the next year is far more likely now.

Few.

— Samson Mow (@Excellion) August 5, 2024

He mentioned various potential reasons why Bitcoin might surge again. He casually listed Apple potentially transferring its excess funds to Bitcoin and Berkshire Hathaway possibly doing the same, although he finds the latter less probable given that Berkshire’s founder, the renowned investor Warren Buffett, has been a long-term critic of Bitcoin, famously dubbing it “rat poison squared” during a shareholder meeting in 2018.

It’s uncertain who might be investing in Bitcoin, whether it’s Apple, Berkshire, or others. A number of factors could cause such an investment, and any one of these could potentially set off a chain reaction similar to Omega.

— Samson Mow (@Excellion) August 5, 2024

In summary, Mow explained that “multiple factors could set off Omega,” which is a significant Omega candle, and that this event would likely cause the price of Bitcoin to surge towards $1 million.

Bitcoin plunges to $50,000, Mow explains why

In the last 24 hours, Bitcoin, the leading cryptocurrency globally, experienced a significant drop in value, falling below the $50,000 mark. The dip was substantial, with over an 18% decrease, reaching $49,770. However, the price rebounded swiftly, climbing back up to approximately $51,660. Currently, Bitcoin’s value has bounced back and is hovering around the $52,676 region.

As a seasoned investor with years of experience in the volatile world of cryptocurrencies, I have witnessed countless price fluctuations in Bitcoin, but the recent drop has been particularly noteworthy. It started last Monday, and it was a clear sign that the bull run might be coming to an end. The intensification on Friday only confirmed my suspicions. Over the past few days, Bitcoin has plummeted by approximately 19.32%, and since its peak on Monday, it has fallen by a staggering 24.75%. This decline not only erased the gains made over the past few weeks but also pushed the price below the psychologically significant $70,000 mark. If Bitcoin had continued to rise instead of falling, it could have easily surpassed its March all-time high and potentially set a new record. However, the current bearish trend has put a damper on my optimism for the short term. I remain cautiously optimistic about the long-term potential of cryptocurrencies, but for now, I will be closely monitoring the market to see if this is just a temporary correction or the start of a larger downturn.

Samson Mow tweeted over the weekend that Bitcoin is being pushed down by traditional markets (TradFi) collapsing at the moment. But this is a temporary state of affairs, he believes.

Robert Kiyosaki, the renowned expert on personal finance who wrote the best-selling “Rich Dad Poor Dad” book, has also shared his thoughts on the recent Bitcoin drop. He advises investors to take advantage of this decline by purchasing during the dip.

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2024-08-05 14:11