Samson Mow, a Bitcoin proponent and CEO of JAN3, has issued a significant message to the global crypto community. Doubling down on his $1 million Bitcoin prediction, he cited several major triggers that could propel the cryptocurrency to this monumental price.
Read Also: Bitcoin Faces Sharp Decline, and Market Skeptics Sound Alarms
Mow Confidence in $1 Million Bitcoin Prediction
Mow recently tweeted that he now estimates that the chances of Bitcoin getting to $1 Million in the next year are higher. When asked about the situation with Bitcoin trading as the actual ‘risk-off’ asset, Mow admitted that it is impossible to judge for sure. However, he pointed out some factors that may help Bitcoin achieve that status. Mow indicated that if large firms, such as Apple and Berkshire Hathaway, invest their free cash in Bitcoin, the blockchain asset could soar massively. Nevertheless, these prospects were enough to allow Mow to remain optimistic despite Warren Buffett’s constant bashing of the cryptocurrency.
Mow elaborated on his view that many possible threatening circumstances may cause a higher Bitcoin price. He called this a potential increase in the “Omega candle“ that would see Bitcoin hit $1 million.
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Bitcoin Plummets to $50,000, Mow Explains the Drop
Recently, within the last 24 hours, the Benchmark cryptocurrency has experienced a dramatic pullback, getting below $50,000. This cryptocurrency fell more than 18% to $49,770 before increasing to $51,660 and then to $52,600.
The recent drop started earlier than a week ago and aggravated on Friday. After that, the Bitcoin value dropped approximately 19.32%, reduced from the psychologically important level of $70,000. It could have easily touched new all-time highs if this level had been sustained.
Mow tweeted over the weekend that the collapse of traditional financial systems is driving Bitcoin’s drop. However, he feels that this is a transient issue. Robert Kiyosaki, a financial guru and author of “Rich Dad Poor Dad,” remarked on the fall, recommending investors to purchase the dip.
To summarise, Samson Mow remains confident in his prediction that Bitcoin will reach $1 million despite its recent drop. He believes various factors might fuel this spike, and he remains enthusiastic about Bitcoin’s long-term potential. As the market fluctuates, all eyes are focused on these prospective events and their implications for Bitcoin’s future.
Read Also: Elon Musk’s Cryptic Tweet Sparks Bitcoin Speculation Amid Market Crash
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.