As a seasoned crypto investor with a decade of experience in this rollercoaster market, I can’t help but feel a sense of deja vu as I watch Bitcoin dance around the $59,000 mark. Samson Mow’s recent statements resonate deeply with me, echoing my own convictions about Bitcoin’s potential for massive growth.
Samson Mow, a well-known advocate for Bitcoin and CEO of JAN3, which assists countries in adopting Bitcoin, has voiced his perspective on the recent back-and-forth trading activity experienced by the leading digital currency, Bitcoin.
Mow believes that Bitcoin is about to start growing big and fast.
“It’s usually when it goes up. A lot”: Samson Mow on BTC trading sideways
Over the past week, Bitcoin has maintained a steady but low level of trading. This follows a steep drop of nearly 9% between August 25 and August 28, causing it to leave the $64,430 zone and reach $58,600. Since then, Bitcoin, often referred to as digital gold, has experienced fluctuations; at one point rising by approximately 3.82% and regaining the $60,000 mark, but subsequently dipping by 4.5% and later 2.22%.
Regardless of whether Bitcoin’s value has increased or decreased, it has consistently hovered around the $59,000 mark thus far, with its price movements confined within that range.
According to the head of JAN3, while some individuals think Bitcoin will continue moving horizontally for an extended period, Mow disagrees. Instead, he observes that Bitcoin appears poised to significantly increase in value: “This is typically when it surges. Quite a bit.”
There’s a growing sentiment that Bitcoin might continue moving horizontally indefinitely. However, history shows that periods of perceived stagnation often precede significant price increases.
— Samson Mow (@Excellion) September 2, 2024
On the day Bitcoin plummeted from around $64,000 to just below $59,000, Samson Mow expressed on Twitter that he was still unwilling to sell any of his BTC holdings. He accompanied this statement with a GIF featuring Leonardo DiCaprio, depicting the main character from the movie “The Wolf of Wall Street.”
On August 31st, Mow shared a post on the X platform, stating that any Bitcoin price under $100,000 (which he referred to as “$0.1 million” in a manner characteristic of Bitcoin maximalists) was fabricated or artificially low. This observation came at a time when Bitcoin, along with the stock market and the Nasdaq 100 index, experienced a significant decline.
Dogecoin founder comments on Bitcoin drawdown
It appears that one of the co-creators of the initial meme-based cryptocurrency, DOGE, who goes by the name Shibetoshi Nakamoto within the X crypto community, may anticipate a challenging month for the most prominent digital currency in September.
On Monday, as Bitcoin experienced yet another steep decline, Markus posted a screenshot of a BTC price chart with red hues on Twitter along with the message: “Remind me when September is over.”
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2024-09-03 11:13