NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Crucial BTC Price Level for Bitcoin Bull Run Unveiled by Samson Mow

Published 2024-07-17, 04:13 a/m
© Reuters.  Crucial BTC Price Level for Bitcoin Bull Run Unveiled by Samson Mow
BTC/USD
-

U.Today - Samson Mow, the CEO at Jan3, has published a post via his account on the X platform (widely known as Twitter in the not-so-distant past), in which he named the price level at which BTC is likely to start going ballistic.

He also commented on the recent Bitcoin price decline that stunned the cryptocurrency market.

Here's when Bitcoin bull run will start, per Mow

Samson Mow addressed the global crypto community to share his take as to when Bitcoin will start its massive new bull run. Mow believes this is likely to begin once the world’s flagship cryptocurrency reaches the $100,000 level.

Bitcoin has been in a massive decline as of late and has still not reached the above-mentioned crucial price level Samson Mow believes to be “the fakery to make retail think Bitcoin is over,” as he said in his X post. To help unwind it, Mow published his tweet.

Over the past 24 hours, Bitcoin succeeded in reclaiming the $66,000 level, soaring close to the $66,100 level. This 5.34% price increase took place after BTC plunged by 4% yesterday after the former and currently nonfunctional Mt. Gox crypto exchange transferred approximately $6 billion worth of Bitcoin to begin reimbursement payouts to its creditors, who suffered major financial losses during the infamous 2014 hack.

Crypto exchanges began to receive funds from Mt. Gox in Bitcoin and Bitcoin Cash yesterday, according to reports. One of those platforms was the U.S.-based exchange Kraken, and it stated that it would distribute the crypto among the creditors within the upcoming week or two. At the time of this writing, Bitcoin is changing hands at $65,338 after a small decline that took place today following the rise.

Bitcoin going to $1 million, Mow states

On Tuesday, July 16, Samson Mow tweeted that he believes Bitcoin is definitely going to $1 million. The influencer believes that this enormous price surge is most likely to happen within one year from now, as he pointed out in response to one of the comments under his tweet. As for the Mt. Gox Bitcoin, he reckons that only approximately 20% of it will be sold, and the rest of it will likely be moved to cold wallets.

This article was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.