Real Bitcoin Action Has Not Even Started Yet: Samson Mow

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As a seasoned analyst with over two decades of experience in the financial markets, I’ve seen my fair share of market cycles and trends. However, Samson Mow’s ultra-bullish take on Bitcoin is reminiscent of the early days of the internet, where visionaries like him saw the potential that others overlooked.

Samson Mow, CEO of JAN3 and an ardent Bitcoin advocate, recently shared his insights on the current Bitcoin price movement with his online audience via the X social media platform.

The JAN3 boss clearly expects that the leading cryptocurrency is likely to continue rising.

Samson Mow’s ultra-bullish take

Samson Mow commented on the recent Bitcoin price surge as BTC gained 4% over the past day, spiking from $68,430 to the $71,200 level. That was the first time Bitcoin managed to regain $70,000 in the past four months. The last time BTC was observed at that price level was in June.

Via a tweet, Mow expressed his optimistic viewpoint about the current price trend: “We’re still waiting for the main event!

The real action hasn’t even started yet.

— Samson Mow (@Excellion) October 28, 2024

Samson Mow often makes bold forecasts predicting that Bitcoin’s value could reach a million dollars soon.

Ancient whale sends BTC to Binance as price soars

Based on information from the Smart Money tracker @lookonchain, when Bitcoin surpassed the $71,000 mark, a previously inactive whale (someone who owns a large amount of Bitcoin) became active after 12 years. This wallet held approximately 749 Bitcoins. In 2012, each Bitcoin was trading at around $11, and this amount would have been worth about $8,151. However, with the current value of Bitcoin at over $53 million per Bitcoin, this particular stash is now worth a staggering $53.23 million.

According to the data, a whale moved 159 Bitcoins to Binance, which translates to approximately 11.32 million dollars.

After hitting the $71,000 mark, a dormant whale holding approximately 749 Bitcoin ($53.23M) stirred from a 12-year slumber and moved 159 Bitcoin ($11.32M)! This whale initially amassed 749 Bitcoins (worth about $8,151 at the time) in 2012 when each coin was priced at just $11.

— Lookonchain (@lookonchain) October 29, 2024

Apart from the one mentioned earlier, two other Bitcoin wallets that had been inactive for some time suddenly became active within just 48 hours. One of these reactivated on Monday and held 16 Bitcoins. When this Bitcoin was last moved back in 2013, it was worth a staggering $1,147,359. If we consider the value of Bitcoin in 2013, which was approximately $2,160, then this ‘crypto-whale’ could have potentially earned a massive 53,018.5% return on their investment.

The second wallet was originated during the era associated with Satoshi Nakamoto, the mysterious figure behind Bitcoin, around the year 2010, marking the time he withdrew from the public eye.

28 Bitcoins, initially valued under $9 in 2010 when their worth was merely $0.30, have transformed into an astonishing fortune of approximately $1,995,139 if they were to be sold today.

In the last week, Bitcoin’s price has been on a steady increase. Over the past two days alone, its value has risen by 5.22%, and since Friday, this growth has amounted to a remarkable 7%. As a result, Bitcoin has moved from the $66,500 region to trading at $71,125 right now.

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2024-10-29 15:56