Samson Mow "Bitcoin's fundamentals are strong"...Optimistic about breaking $1 million

▲ Bitcoin (BTC)

A bold prediction that Bitcoin (BTC) will reach $1 million has resurfaced.

According to a report by virtual asset specialized media NewsBTC on April 30 (local time), Samson Mow, CEO of Jan3, diagnosed that Bitcoin's fundamentals remain robust despite market volatility.

Mow emphasized that the demand for Bitcoin spot ETFs overwhelms the daily mining output. He observed that if the supply-demand imbalance deepens, an "Omega candle" will appear, causing prices to surge rapidly. The basis for this is that Bitcoin spot ETFs are absorbing significantly more Bitcoin than the amount supplied daily.

Inflation caused by central banks' indiscriminate currency issuance was also cited as a factor that will increase Bitcoin's value. He predicted that as the instability of the fiat currency system grows, Bitcoin will establish itself as an alternative to the existing financial system. Mow asserted that Bitcoin would become a core component of global financial infrastructure, going beyond a mere investment asset.

Regarding market pessimism, he drew a line, stating it is a temporary phenomenon. He explained that the path to $1 million is already set, and the current price correction is merely an opportunity for long-term investors. He stated that investors should not get bogged down in short-term price fluctuations but should focus on Bitcoin's scarcity and innovativeness.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*