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Chances of Waking Up to $200,000 BTC Grow Higher – Samson Mow
Yuri Molchan
Samson Mow believes that the odds of the Bitcoin Omega candle are increasing, while the report states that FOMO is increasing
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Samson Mow, Bitcoin maximalist and CEO of Bitcoin adoption-focused company Jan3, tweeted that the chances of Bitcoin printing a giant Omega candle on the charts have increased dramatically.
If I’m not here Godzilla candles on the horizon, so the possibilities for Omega candles increase, according to his post X. Mow believes that “the Bitcoin coil” is getting “super compressed” now. Therefore, the longer a Godzilla spark plug is missing, “the more likely you are to get an Omega.”
One commenter jokingly asked if she should be ready to go to sleep with Bitcoin trading at $70,000, only to wake up with BTC hitting $200,000. Mow, a $1 million Bitcoin believer, responded “yes.”
Bitcoin FOMO and peak greed
A recent report published by on-chain data aggregator Santiment revealed that the flagship cryptocurrency, Bitcoin, plummeting below $67,000 on Thursday for the second time this week prompted the second-largest crowd surge Bitcoin buying interest in the last 60 days – FOMO (“fear of missing out”) and greed are on the rise now, Santiment concluded.
The report suggests two possible scenarios for how BTC and traders should behave next. The first assumes that the price of Bitcoin will skyrocket and that traders will start jumping on this bandwagon, hoping that BTC will continue to rise, as it did in late May.
The second possible scenario is that the price of Bitcoin drops sharply and traders start buying in the hope that BTC will quickly recover after that drop. This scenario occurred on June 13, the report reminded everyone.
Bitcoin market performance
For the second time this week, Bitcoin fell below $70,000. The first price drop was observed on Monday, when the leading cryptocurrency plummeted by 5.5% to the $66,200 zone. This collapse was followed by a price surge that brought BTC back to the $70,000 mark.
Then, between Wednesday and Thursday, Satoshi Nakamoto’s brainchild returned to the downside, losing 5.11% and falling to $66,415. By now, Bitcoin has seen a small recovery, rising less than 1%. At the time of writing, BTC is changing hands at $66,930 on the Bitstamp exchange.
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.