The post Bitcoin Maxi, CEO Expects ‘$0.01 Million’ As Threshold For BTC ‘Sale’ appeared on BitcoinEthereumNews.com.

Samson Mow, a Bitcoin influencer and the CEO of JAN3, recently made waves with his predictions on the future price of Bitcoin. He shared his outlookᅳbullish for the price trajectory of Bitcoinᅳin a post on the social media site X (formerly Twitter) recently. According to Mow, Bitcoin is at its “sale” moment, telling people that prices below $100,000 are what smart investors want. He quoted, “Any price below $0.1M is still #Bitcoin on sale,” insinuating that when Bitcoin reaches this price, the sale will then come to an end. Bitcoin’s Recent Spike On August 23, 2024, Bitcoin saw one of its largest price surges, as it gained over 6% from around $60,700 to approximately $64,450. It followed after a comment by Federal Reserve Chair Jerome Powell on interest rate cuts, most of which investors were taking as a positive sign for the cryptocurrency market. Any price under $0.1M is still #Bitcoin on sale. — Samson Mow (@Excellion) August 24, 2024 Amidst all the price fluctuation of Bitcoin, it rested at $64,230, still radically going up. This did not only push Bitcoin but also the altcoins up, whose prices leaped up too. Mow’s predictions are pegged on the recent structural changes in the Bitcoin market. He points to the approval of spot Bitcoin ETFs, which have been aggressively accumulating Bitcoin since creation. These ETFs are said to be purchasing thousands of Bitcoins daily, thus creating a huge demand shock. According to Mow, this coupled with the supply shock that resulted from the recent halving eventᅳwhich brought a drop in the Bitcoin block rewardᅳwill make for a perfect mix to catalyze a dramatic price increase. Bitcoin is now trading at $64,022. Chart: TradingView $1 Million Bitcoin Prediction Mow is rather vocal about his long-term price predictions; he claims that Bitcoin may see…

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Filed under: News - @ August 25, 2024 3:05 pm