Bitcoin maximalist and CEO of JAN3, Samson Mow, shared his views on the recent sideways trend of Bitcoin, the world's largest cryptocurrency.
Mow thinks Bitcoin is preparing for a big and fast rally. “This is usually what happens when there is a big rally,” the popular figure said about BTC’s sideways movement.
Bitcoin has been trending sideways since August 28, after losing the $64,430 level and falling to $58,600. Since then, BTC has regained the $60,000 level once with a 3.82% increase, before falling by 4.5% and 2.22% respectively.
Bitcoin expects big rise
However, despite its recent rise and fall, Bitcoin always returns to the $59,000 level and remains in this range. The JAN3 CEO stated that many people have started to think that BTC will “go sideways forever,” but this is a wrong view.
Mow said he sees Bitcoin preparing to begin a massive price rally: “Usually when that happens, it’s a very big rally.”
Samson Mow believes that as long as Bitcoin continues to trade below $100,000, it is trading sideways and the price could rise above that level.
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