Bitcoin, the world’s leading cryptocurrency, has recently experienced a downturn, dropping from $56,000 to $54,000 and losing nearly 4% of its massive $1.07 trillion market capitalization. However, Jan3 CEO Samson Mow remains optimistic, predicting a bullish reversal soon.
Bitcoin Sharp Decline
Bitcoin, the leading cryptocurrency, recently experienced a downturn, dropping from $56,000 to $54,000 and losing nearly 4% of its market capitalization. This decline has sparked discussions among analysts and investors about future developments.
Samson Mow's Opinion
In a post on social media platform X (formerly known as Twitter), Samson Mow dismissed bearish predictions of Bitcoin falling to $40,000 as “self-induced fear.” According to the crypto entrepreneur, fear-driven markets “never lasts long” because the fundamentals usually “win out over time.”
Factors Supporting Growth
Mow noted that the 2022 surge in Bitcoin’s price despite the FTX collapse reinforces his belief that Bitcoin will eventually reach six figures. He also emphasized the support for Bitcoin growth from various factors, including quantitative easing, strategic Bitcoin reserves, increasing institutional adoption, and corporate investments.
Despite current market instability, Samson Mow is confident that Bitcoin will overcome short-term difficulties and return to growth due to fundamental factors.
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