Samson Mow, the CEO at Jan3, has published a post via his account on the X platform (widely known as Twitter in the not-so-distant past), in which he named the price level at which BTC is likely to start going ballistic.
He also commented on the recent Bitcoin price decline that stunned the cryptocurrency market.
Here's when Bitcoin bull run will start, per Mow
Samson Mow addressed the global crypto community to share his take as to when Bitcoin will start its massive new bull run. Mow believes this is likely to begin once the world’s flagship cryptocurrency reaches the $100,000 level.
Bitcoin has been in a massive decline as of late and has still not reached the above-mentioned crucial price level Samson Mow believes to be “the fakery to make retail think Bitcoin is over,” as he said in his X post. To help unwind it, Mow published his tweet.
The bull run starts at $0.1M. This is just the unwinding of the fakery to make retail think #Bitcoin is over.
— Samson Mow (@Excellion) July 17, 2024
Over the past 24 hours, Bitcoin succeeded in reclaiming the $66,000 level, soaring close to the $66,100 level. This 5.34% price increase took place after BTC plunged by 4% yesterday after the former and currently nonfunctional Mt. Gox crypto exchange transferred approximately $6 billion worth of Bitcoin to begin reimbursement payouts to its creditors, who suffered major financial losses during the infamous 2014 hack.
Crypto exchanges began to receive funds from Mt. Gox in Bitcoin and Bitcoin Cash yesterday, according to reports. One of those platforms was the U.S.-based exchange Kraken, and it stated that it would distribute the crypto among the creditors within the upcoming week or two. At the time of this writing, Bitcoin is changing hands at $65,338 after a small decline that took place today following the rise.
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Bitcoin going to $1 million, Mow states
On Tuesday, July 16, Samson Mow tweeted that he believes Bitcoin is definitely going to $1 million. The influencer believes that this enormous price surge is most likely to happen within one year from now, as he pointed out in response to one of the comments under his tweet. As for the Mt. Gox Bitcoin, he reckons that only approximately 20% of it will be sold, and the rest of it will likely be moved to cold wallets.
