‘This Is How Bitcoin Works’: Samson Mow Shares Surprising Explanation

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As a long-term observer and experienced participant in the cryptocurrency market, I have witnessed numerous price fluctuations and market conditions over the years. Bitcoin’s current “crab market” or “pvp” phase may seem anxiety-inducing to some investors, but I believe these price movements are a predictable aspect of Bitcoin’s market dynamics.

Recently, Bitcoin’s price has shown modest ups and downs, resulting in a rather uneventful experience for investors, who may describe it as a monotonous rollercoaster ride. This market behavior is commonly known as a “sideways market” or “consolidation,” where prices move horizontally with minimal progression, or as “pvp markets,” signifying a “trader versus trader” battlefield with limited clear trends.

Bitcoin’s price has held steady at $67,000 despite a recent lull, bouncing back from last week’s slide into the $50,000 territory. However, it falls short of reaching its previous peak above $74,000.

'This Is How Bitcoin Works': Samson Mow Shares Surprising Explanation

In times like these, the market climate may cause apprehension for investors due to the prevalence of fear, uncertainty, skepticism, and avarice. Such feelings can prompt rash actions and errors.

For Samson Mow, a prominent figure in the crypto world, such price swings don’t faze him. Known for his daring prognostications, like predicting Bitcoin to hit $1 million, Mow keeps a resilient perspective.

This is how Bitcoin works

Mow recently shared his viewpoint on the unpredictable price trend of Bitcoin. In his opinion, investors tend to sell at specific points, thinking they’re making wise decisions. However, these price levels often turn out to be temporary dips, followed by Bitcoin’s rise to unprecedented heights, leaving regretful sellers wishing they had held on.

This cycle, Mow suggests, is a fundamental characteristic of Bitcoin’s market dynamics.

This is how #Bitcoin works:

People sell at a certain level thinking they are clever.

Bitcoin melts faces and goes up to the next level.

The “clever” people regret having sold.

Repeat.

— Samson Mow (@Excellion) July 25, 2024

Although Mow’s theory needs further confirmation, veterans in the cryptocurrency market may recognize some merit in his insights. The belief that Bitcoin‘s price fluctuations are influenced by cyclical patterns and investor behavior is widely held among skilled traders.

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2024-07-26 12:30