Bitcoin Bears Driven by Fear, Not Fundamentals, Predict $40K Drop

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Samson Mow, CEO of Bitcoin technology firm Jan3, argues that predictions of Bitcoin falling to $40K are based on "self-induced fear" rather than technical fundamentals.

Mow suggests Bitcoin could just as easily reach $100K, citing macroeconomic factors like the $3 billion daily interest the U.S. government pays on its debt and increasing corporate Bitcoin reserves. He believes fear-driven markets are temporary, with fundamentals ultimately prevailing.

Despite current extreme fear in the market, Bitcoin remains at $53,824, with the Crypto Fear & Greed Index at a score of 23. Analysts warn of a potential drop below $50K soon.