Bitcoin ETF

Bitcoin

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In a recent social media post, prominent Bitcoin supporter <a href="https://u.today/ultra-bullish-bitcoin-statement-made-by-samson-mow-ahead-of-possible-etf-approval" rel="noopener noreferrer nofollow">Samson Mow</a> stated that he does not believe in the price of the world’s flagship cryptocurrency dropping as low as $30,000.
In the tweet, Mow referred to rumors and opinions that have been reaching his ears recently about a large number of investors hoping that Bitcoin is going to drop to the $30,000 range (“$0.03 million range” as Mow referred to it) in order to begin stocking up on BTC at those levels.
“I think they’ll be disappointed,” Mow concluded.
<blockquote>
 From what I'm hearing, a good amount of investors are thinking <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> will drop to the low $0.03M range and waiting to buy then. I think they'll be disappointed.— Samson Mow (@Excellion) <a href="https://twitter.com/Excellion/status/1749557311016992836?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 22, 2024</a>
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In the meantime, the global leading digital currency has dropped below the $40,000 level over the past 24 hours as investors continue to get out of Bitcoin ETFs, and from <a href="https://u.today/most-of-approved-spot-bitcoin-etfs-will-not-make-it-grayscale-ceo" rel="noopener noreferrer nofollow">Grayscale</a> in particular. Yesterday, Grayscale saw a massive outflow of 14,292 BTC evaluated at approximately $565.84 million.
Unlike Grayscale, eight other spot Bitcoin ETF issuers have acquired 9,755 BTC worth $386.24 million. Fidelity, in particular, saw an inflow of 5,312 BTC worth $210.33 million.
<blockquote>
 According to the latest data released on the website:<a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Grayscale</a> decreased 14,292 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($565.84M) yesterday.8 ETFs added 9,755 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($386.24M) yesterday, of which <a href="https://twitter.com/hashtag/Fidelity?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Fidelity</a> added 5,312 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($210.33M). <a href="https://t.co/CVBdH5iybB" rel="noopener noreferrer nofollow">pic.twitter.com/CVBdH5iybB</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1749709619482783951?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 23, 2024</a>
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At the time of this writing, Bitcoin is changing hands at $39,062, having declined by 4.33% within the past 24 hours.
<h2 id="wen-1-million-for-bitcoin">“Wen $1 million” for Bitcoin?</h2>
The Bitcoin community responded with mixed comments in reaction to Mow’s aforementioned tweet. According to the responses, many would not mind Bitcoin dropping that low in order to buy more digital gold. Many Twitter users who emerged in the comments to Mow’s tweet said they plan to start buying more as soon as Bitcoin drops a little lower than where it is now.
Mow is a believer that Bitcoin will definitely hit $1 million in the future, and he now sees Bitcoin prices under $100,000 in the “$0.0…” million scale as in the tweet, where he referred to $30,000 as “$0.03 million.”
However, Mow does not name any particular time when he expects Bitcoin to surge to $1 million, therefore, all his recent tweets about “Bitcoin going to $1 million” sound rather metaphorical. He recently elaborated on X as to why BTC did not reach that high level after the spot Bitcoin ETF approval – because he had made his million USD predictions “for fun” and also to emphasize that the overall market foundations have changed radically for Bitcoin.

Bitcoin at $30,000? I Think They'll Be Disappointed: Samson Mow

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