Samson Mow, famous Bitcoin maximalist and chief executive officer at the JAN3 company focused on helping nation-states to adopt BTC, has shared his take on the continuous side-trading that the world’s largest cryptocurrency, Bitcoin, has been going through recently.
Mow believes that Bitcoin is about to start growing big, fast.
"It's usually when it goes up. A lot": Samson Mow on BTC trading sideways
Bitcoin has been trading flat over the past week – since Aug. 28, after it had plummeted by almost 9% within three days, losing the $64,430 zone and falling to the $58,600 level. Since Aug. 28, the digital gold has been going up and down, once rising by 3.82% and reclaiming the $60,000 level and then falling by 4.5% and 2.22%.
However, lately, whether it has been rising or falling, Bitcoin has always returned to the $59,000 price level, staying within this range.
The JAN3 boss stated that while many people are beginning to reckon that BTC will “go sideways forever,” this is the wrong view. He stated that he is seeing Bitcoin preparing to start increasing in price on a large scale: “That’s usually when it goes up. A lot.”
People are starting to think #Bitcoin will go sideways forever. That’s usually when it goes up. A lot.
— Samson Mow (@Excellion) September 2, 2024
On the day Bitcoin collapsed from above $64,000 to slightly under $59,000, Samson Mow tweeted that he was “still not selling” any of his BTC stash, posting a GIF with Leonardo DiCaprio from the popular movie “The Wolf of Wall Street,” where he played the lead role.
On Aug. 31, Mow published a post on the X platform, saying that he considers any Bitcoin price below the $100,000 level (which he called “$0.1 million” in a Bitcoin-maxi style) to be artificial. That was the time when Bitcoin plunged together with the stock market, and the Nasdaq 100 index in particular.
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Dogecoin founder comments on Bitcoin drawdown
One of the two creators of the original meme cryptocurrency DOGE, Billy Markus, known to the X crypto community as Shibetoshi Nakamoto, seems to be expecting that all of September is going to be unfortunate for the largest cryptocurrency.
On Monday, when Bitcoin took another dep plunge, Markus shared a screenshot of a BTC chart in red and tweeted, “wake me up when September ends.”
