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Bitcoin (BTC) will reach $1.0 million by next year, Samson Mow predicts
Yuri Molchan
Samson Mow expects BTC to reach $1 million by 2025
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Samson MowJan3, a lifelong $1 million Bitcoin supporter and CEO of a company focused on BTC adoption, has made another bullish statement on BTC.
Mow shared his prediction that the world’s flagship cryptocurrency will finally reach one million by 2025.
Mow tweeted that Bitcoin will likely skyrocket, although many people may doubt it.
Samson Mow and his previous $1 million BTC predictions
Samson Mow is famous for his bullish long-term Bitcoin price predictions as he has consistently spread the word about the likely arrival of $1 million per BTC as a result of “Omega candles” or at least “Godzilla candles”.
His firm certainty is based on the approval of spot Bitcoin ETFs in January and the fourth Bitcoin halving in late April. After ETFs got the green light from the American Securities and Exchange Commission (the SEC), they began accumulating huge amounts of BTC. Every day, excluding weekends, they raised millions in BTC to support their exchange-traded products.
The only ETF losing Bitcoin every day in withdrawals was Grayscale’s GBTC. This allowed BlackRock’s IBIT to finally surpass GBTC in terms of size of Bitcoin holdings. Mow then said that spot ETFs will create a demand shock for Bitcoin.
Once the halving occurred and the block size was reduced from 6.25 to 3.125 BTC, the Jan3 boss tweeted that a Bitcoin supply shock had occurred. According to his predictions, the world’s flagship cryptocurrency will rise to $1 million (and even more later) once the demand shock meets the supply shock.
Bitcoin market performance
Over the past 24 hours, the world’s largest digital currency in terms of market capitalization value has seen a massive collapse, losing the $64,000 and $63,000 levels.
Since Sunday, the price of Bitcoin has fallen by 3.32%, from $64,345 to the $62,190 level, where it is changing hands at the time of writing.
AS reported by U.Today previously, Bitcoin miners continue to sell as much BTC as possible. The selling pressure on Bitcoin from them continues to remain at a high level, becoming one of the main triggers that recently pushed the price of BTC lower. Miners are dumping their BTC to cover mining expenses and lock in their profits.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and cryptocurrencies since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many aspects of it. He has written for several crypto media. His articles have been cited by cryptocurrency influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.