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Samson Mow, a Bitcoin proponent and chief executive at the JAN3 company that helps nation-states to adopt BTC, has sent an important message to the global crypto community, doubling down on his $1 million Bitcoin prediction.
He provided several major triggers that may help the world’s leading cryptocurrency make that massive price jump.
Mow now certain Bitcoin will hit $1 million next year
The JAN3 chief tweeted that he now believes that Bitcoin’s odds of reaching $1 million within the next year are much higher now. Answering a question about what will make Bitcoin start trading as a true risk-off asset, Mow said that, currently, this is impossible to tell for sure.
$1M #Bitcoin in the next year is far more likely now.
— Samson Mow (@Excellion) August 5, 2024
Few.
However, he named several factors that he believes may help BTC do just that. Naming them rather offhandedly, he said that Apple may move its free cash to Bitcoin, and Berkshire Hathaway could do that as well, he reckons. The latter seems less likely since the company’s founder, the legendary investor Warren Buffett, is a strong and long-term Bitcoin critic, who called it “rat poison squared” during the annual shareholder meeting in 2018.
No one knows for sure. Apple moving cash to BTC? Berkshire moving cash to BTC? There are many triggers and any one of them can trigger Omega.
— Samson Mow (@Excellion) August 5, 2024
Overall, Mow said that “there are many triggers and any one of them can trigger Omega” – a huge Omega candle that will push Bitcoin toward $1 million.
Bitcoin plunges to $50,000, Mow explains why
Over the past 24 hours, the world’s flagship cryptocurrency faced a massive price plummet below the $50,000 level. Bitcoin crashed by more than 18% within a day, hitting $49,770. But the price quickly returned to the $51,660 level. By now, BTC has recovered to the $52,676 zone.
However, the price drop began earlier – on Monday last week. It intensified on Friday. Since then, Bitcoin has lost approximately 19.32% and since Monday it has fallen by 24.75%, losing the psychologically important $70,000 price mark, from where it could have easily beaten the March all-time high if it had moved higher, and not down.
Samson Mow tweeted over the weekend that Bitcoin is being pushed down by traditional markets (TradFi) collapsing at the moment. But this is a temporary state of affairs, he believes.
The financial guru and author of the popular “Rich Dad Poor Dad” book, Robert Kiyosaki, has also commented on the Bitcoin crash, offering investors to buy the dip.