Bitcoin to Hit $1.0 Million After $0.1 Million, Samson Mow Insists

U.Today - Samson Mow, JAN3 boss and a vocal Bitcoin advocate, has doubled down on his earlier forecast of Bitcoin reaching the $1 million price level in the near future. This time, he quoted a famous movie on the topic of financial markets, which describes the event that largely triggered the creation of Bitcoin — “The Big Short.”

In the meantime, Bitcoin has lost roughly 6.35% after surging to a new record peak last Friday. So far, it has failed the expectations of the community of seeing it break above $100,000 quickly.

"$0.1 million, then $1.0 million"The JAN3 chief executive addressed the global Bitcoin community with a tweet, in which he doubled down on his earlier $1 million BTC price prediction within the next year. This time, Mow tweeted that he certainly expects “$0.1M then $1.0M,” adding a quote from “The Big Short” movie that talks about the collapse of the mortgage loan market in 2008. The movie was based on true events, when a few traders, including Michael Burry, shorted that market, betting on its crash.

So far, the world’s bellwether cryptocurrency, Bitcoin, is changing hands at $93,500 after partly paring its losses, faced after the massive 8% price decline on Monday. Mow then tweeted that a “Black Friday Bitcoin sale” had started, offering the community to stock up on BTC on the dip.

Michael Saylor, a renowned Bitcoin evangelist, tweeted that he has already planned a $100,000 Bitcoin party at his house on one of the last days of December and of 2024, as he expects BTC to reach that much-anticipated price mark by then, either in November or December.

"Nocoiner mind is not ready for 6 figure Bitcoin"Analyst Charles Edwards, the founder and CEO of the Capriole Investments fund, revealed why he believes Bitcoin failed to step over the $100,000 mark. Mentioning the recent 25% daily MSTR collapse recently, he pointed out that a lot of traders are selling BTC now. Besides, he reckons, the minds of the masses, who are mostly “nocoiners,” are not ready for Bitcoin to go beyond $100,000. This price level is “the biggest sell wall ever.”

However, he stated that BTC will definitely be back to pass $100,000 with effort, and he said that after that, “the next $100,000 will happen in weeks.”

Source: Investing.com