Many might have succumbed to extreme fear regarding the potential of Bitcoin (BTC), but for Samson Mow, sentiment remains outright bullish. The price action of Bitcoin in recent times has tested the resolve of many hardcore proponents. However, with Samson Mow, the bearish trend remains a setup for a major rally ahead.
Samson Mow prediction
Taking to his favorite social media platform, X, Samson Mow pointed out that "everything is accelerating" at a fast pace. Specifically, he pointed to the growing adoption of Bitcoin and the drop in fiat valuation as two key factors that will drive growth - but which many people are choosing not to see.
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The advocacy for Bitcoin from Samson Mow is not bogus. It is worth noting that the spot Bitcoin ETF market has played a crucial role in shaping the supply of the coin. Recently, the sell-off from Germany and the bearish sentiment that trailed Mt. Gox's Bitcoin redistribution drove the price of BTC to a low of $53,717.38 over the past month.
Everything is accelerating. Both #Bitcoin adoption and fiat collapse. Some people just don’t want to see it. pic.twitter.com/HDsIyyIENu
— Samson Mow (@Excellion) July 12, 2024
While many are choosing to focus on the negative impact of these sell-offs, Mow believes the accumulation by Bitcoin ETF products is properly counterbalancing the impact. With his projections, he has maintained his stance that the coin will hit a $1 million price mark overall.
Bitcoin legacy in check
Beyond value transfer, Bitcoin has built a whole new legacy that many Wall Street firms are now trying to align with. The launch of spot Bitcoin ETFs is one of these legacies as investors can now gain unhindered access to the coin without the accompanying risks of physical BTC management.
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MicroStrategy is also helping to boost the reality check for the coin with consistent accumulation in a mutually beneficial setup for its share price. The company initiated a 10-for-1 stock split recently, underscoring how the coin has triggered its growth since 2020.
