Key Driver for Bitcoin (BTC) Omega Candle Named by Samson Mow

U.Today - Samson Mow, Bitcoin proponent and the chief executive officer at the BTC adoption-focused company JAN3, has addressed his audience on the X platform to share with them a BTC prediction.

He revealed what may be the most likely key driver for the very first Omega candle, which will push the price of the world’s flagship cryptocurrency toward $1 million. His prediction has to do with Michael Saylor’s Bitcoin-focused company, MicroStrategy.

Mow expects gamma squeeze on MSTROmega candle is a short-time and a single-day bullish price movement depicted as a large green candle on charts that suggests an extraordinary and rapid price increase. Mow is well-known for predicting Bitcoin to eventually reach $1 million per coin and then go higher.

Mow expects the first Omega candle for Bitcoin to happen thanks to a gamma squeeze on MicroStrategy stocks. Gamma squeeze is related to options trading and it happens with a great number of call options (which indicate a bet on a price increase) gets bought. When this happens, market makes are forced to hedge the risks and they begin to buy the stock itself which backs the options. This drives the stock’s price higher. This is what Mow expects to happen to MSTR and then he expects this to push the Bitcoin price up.

Meanwhile, MicroStrategy is not slowing down its strategic Bitcoin purchase plan, regularly adding more BTC to its stash.

Bitcoin Sat-dollar parity predicted by JAN3 bossIn an earlier tweet, Samson Mow discussed the possible future of Bitcoin when it will be used in the economy equally to the U.S. dollar. The JAN3 CEO predicted that BTC will eventually reach parity with the dollar, or rather particles of Bitcoin called Satoshis will be at parity with the U.S. fiat currency.

Mow explains that by dollar-sat parity he means the approximate purchasing power of the dollar in the present day. “A dozen eggs will be 2-3 sats,” he tweeted.

He added that this will happen if the remaining Bitcoin is divided “equally between everyone on the planet.” It is already impossible to divide the 21 million BTC “equally” because of current holders. The actual number of BTC that the average person might end up with per Mow is likely 10-50K Sats.

Source: Investing.com