According to U.Today, Samson Mow, CEO at Jan3 and a well-known Bitcoin maximalist, has reiterated his prediction that Bitcoin will eventually reach $1 million per unit. Mow, who is recognized for his long-term predictions of Bitcoin reaching the $1 million mark, recently reaffirmed his stance on a social media platform.
This year, Mow has doubled down on his prediction, in anticipation of the fourth Bitcoin halving that occurred in the second half of April. Prior to this, when the SEC officially approved the trading of spot Bitcoin ETFs in January, Mow repeatedly stated that these ETFs' daily accumulation of Bitcoin would ultimately lead to a BTC demand shock. He also suggested that the halving, which reduces block rewards by half, would result in a Bitcoin supply shock. Mow's conclusion is that when these demand and supply shocks intersect, they could potentially drive the Bitcoin price up to $1 million or even higher.
Mow recently tweeted his certainty that Bitcoin will reach $1 million. However, he noted two uncertainties: the exact timing of this event and the speed at which BTC will surge to this all-time high. Mow also shared his belief that the chances of Bitcoin jumping from $70K to $200K are high. He suggested that the longer the market waits for a significant price movement, the higher the likelihood that BTC will experience a substantial price jump, potentially from $70,000 to $200,000 overnight.
In related news, a recent report by the Santiment on-chain data aggregator revealed a significant three-day drop in the number of non-empty BTC wallets. This is the largest drop since before the historic peak reached by the leading cryptocurrency on March 14. This trend is likely due to recent Bitcoin price drops, which have led holders to sell their assets out of fear of further price declines.