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Samson Mow reveals what will happen to all Bitcoin sales now
Yuri Molchan
JAN3 boss breaks silence on recent Bitcoin sell-offs by various market participants
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Samson mowsBitcoin maximalist and CEO of JAN3, a company that helps nation states adopt BTC, commented on the recent Bitcoin sell-off, during which the world’s largest cryptocurrency twice plunged below $60,000.
Mow believes that any Bitcoin sold now will be taken by the big sharks anyway.
Samson Mow’s Comment on Bitcoin Sell-Off
The Bitcoin maximalist made a bullish statement on BTC, saying that no matter how much Bitcoin has been sold and how much will be sold in the coming weeks and, perhaps, months, it will still be absorbed by the market.
Mow was most likely referring to the spot issuers of Bitcoin ETFs, who began to snap up this digital currency in mid-January, after the SEC granted authorization to begin trading.
Mow’s $1 Million Bitcoin Prediction
This week, Bitcoin permabull Samson Mow made a surprising prediction about BTC, stating that the flagship cryptocurrency is very likely to hit a jaw-dropping price level of $1 million by next year. He wrote this in a tweet published earlier this week.
During a video podcast, he clarified that BTC is very close to hitting $1 million and it could happen this year or next. Even if it doesn’t happen in 2025, he said, this price jump is still bound to happen soon.
Mow has been talking about the high chances of Bitcoin reaching this impressive price level since the beginning of the year and the SEC has given the green light to exchange-traded funds that monitor the spot price of BTC. Eleven major funds, including BlackRock, VanEck, Ark Invest and Grayscale, filed to launch these ETFs last year.
Once approval was granted, these ETFs began absorbing all the Bitcoin they could see and purchased more than 10,000 BTC every day between ETF approval and the BTC halving on April 19th.
These regular purchases of Bitcoin by ETFs and the decreasing Bitcoin block reward have led Mow to expect that BTC is about to skyrocket to $1 million soon. He explained this prediction, saying that there is a big demand shock to Bitcoin now thanks to ETFs and a huge supply shock due to the halving. Once these two BTC shocks collide with each other, they will send Bitcoin skyrocketing, he said.
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 of its aspects. He has written for several crypto media. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.