Samson Mow, the CEO of Jan3 and a recognized investor in Bitcoin, has recently expressed a confident outlook on the future of the cryptocurrency, suggesting that a significant victory for its supporters is “imminent.”
In a recent tweet, the CEO of Jan3 observed that several prominent accounts, which he broadly categorizes as “influential,” have been critical of BTC. Mow clarified that his definition of “influential” is wide and might even encompass “third-rate comedians.”
Despite this criticism, Mow’s interpretation of these events is optimistic, encapsulated in his statement, “Feels like we’re about to win.”
*Influential used loosely and may include third rate comedians.
— Samson Mow (@Excellion) December 11, 2023
His comments come at a pivotal moment for BTC, as it is going through a bull phase following its recently achieved yearly high of trading above $44,000.
Analyzing The Current State Of Bitcoin
Despite Bitcoin’s peak of $44,000, marking its highest point this year, the cryptocurrency has experienced a notable retracement. Over the past 24 hours, BTC’s value decreased by 4.4%, bringing its trading price down to $42,000.
This decline is also reflected in its daily trading volume, which dipped from $34 billion last Monday to $27 billion, signaling a reduction in trading activity and a cooling period after the recent rally.
This downward movement in BTC’s trading volume indicates less investor engagement, an aspect that Mow has recently addressed.
The Jan3 CEO expressed his surprise at Bitcoin’s failure to quickly rebound to the $44,000 mark, despite the upcoming spot BTC exchange-traded fund (ETF) and the halving event, both of which are highly anticipated developments within the BTC community.
Surprised that we haven’t bounced right back to 44k. ETFs and halving are still coming last time I checked. #Bitcoin
— Samson Mow (@Excellion) December 11, 2023
Mow’s Vision For Bitcoin’s Ascent To $1 Million
Samson Mow remains a steadfast advocate for BTC’s potential surge in value. Mow has recently maintained that the path to a $1 million valuation per BTC is “still achievable.” The CEO of Jan3 attributes this optimistic projection to a significant influx of institutional capital and the scarcity effect brought about by upcoming Bitcoin halving events.
Mow’s perspective aligns with a widely held belief in the BTC community: institutional investment will be a crucial catalyst for major price increases.
The CEO of Jan3 anticipates that as more institutional investors inject capital into the market, the finite supply of BTC will become even more pronounced, leading to an upward trajectory in its valuation.
Balaji wasn’t wrong about #Bitcoin going to $1M, but he was wrong on the timing and the catalyst.
My $1M call is based on a massive rapid influx of institutional capital while Bitcoin available for sale is at historical lows, compounded by the halving.
His $1M prediction was…
— Samson Mow (@Excellion) December 6, 2023
Featured image from Unsplash, Chart from TradingView