Bitcoin

Million

<p>The post <a href="https://coinpedia.org/news/could-bitcoin-price-surge-20x-in-2024-heres-what-samson-mow-predicts/">$1 Million Bitcoin? Expert Stays Bullish, Cites Key Drivers</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Hold on tight, crypto fans! Bitcoin just hit an all-time high of $68,770, making 2024 an unforgettable year for enthusiasts. In the last five days, big investors made waves, fueling excitement. Could this be the breakthrough everyone’s been waiting for? Is $70,000 the next stop?</p> 
<p>The big question: Will this boost lead to a sustained rise for <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a>?</p> 
<p>Samson Mow, CEO of Jan3 and a vocal Bitcoin advocate, recently <a href="https://x.com/excellion/status/1764683111223468176?s=46">weighed</a> in on Bitcoin’s surge above $68,000. Mow’s company focuses on promoting Bitcoin adoption by nation-states, with Mow himself being instrumental in El Salvador’s adoption of Bitcoin as legal tender in 2021.</p> 
<h2 class="wp-block-heading" id="h-the-path-to-1-million-is-clear-here-s-how"><strong>The Path to $1 Million is Clear; Here’s How!</strong></h2> 
<p>Known for predicting a future where Bitcoin hits $1 million, Mow points to real factors like extensive U.S. money printing and a growing national debt. He’s optimistic that Bitcoin can make it big.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Yes. <br><br>That’s the answer to “can you take <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>&nbsp; higher?”</p>— Samson Mow (@Excellion) <a href="https://twitter.com/Excellion/status/1764683111223468176?ref_src=twsrc%5Etfw">March 4, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Mow explains Bitcoin’s path to $1 million using terms like “god” and “omega” candles. A “god” candle means a $10,000 rise, while an “omega” candle signals a massive $100,000 surge. Mow predicts a “god” candle coming before an “omega” candle, pushing Bitcoin towards the million-dollar mark.</p> 
<h2 class="wp-block-heading" id="h-supply-demand-and-institutional-boost">Supply, Demand, and Institutional Boost</h2> 
<p>Mow also points to the supply and demand dynamics of Bitcoin, highlighting the significant inflow of institutional funds into Bitcoin through spot Bitcoin ETFs. These ETFs have been acquiring substantial amounts of Bitcoin weekly, with BlackRock’s iShares fund surpassing $10 billion in holdings. Plus, Mow underscores the upcoming Bitcoin halving event as a bullish factor for Bitcoin’s long-term price appreciation.</p> 
<p>During a Bitcoin halving event, the price tends to experience volatility, with fluctuations leading up to and following the event. Historically, there’s often a buildup in price anticipation before the halving, followed by a period of adjustment and potential price correction afterwards. However, the overall trend in the long term has been positive, with Bitcoin’s price typically increasing over time, although past performance is not indicative of future results.</p> 
<h2 class="wp-block-heading" id="h-what-does-the-future-look-like">What Does the Future Look Like?</h2> 
<p>Understanding Bitcoin’s journey means looking at market dynamics and broader economic trends. Every piece, from big market moves to global economic shifts, influences Bitcoin’s potential growth and stability.</p> 
<p>In the bigger picture of Bitcoin’s path to $1 million, Samson Mow gives us a guide, revealing potential milestones and challenges.</p>

$1 Million Bitcoin? Expert Stays Bullish, Cites Key Drivers

Table of Contents

CoinPedia News

Other articles published on Mar 5, 2024

PEPE and Sponge Meme continue to explode amid market frenzy

Bitcoin reaches new US dollar high: From top to bottom and back in 846 days

Fantom Foundation Pursues $112M Asset Recovery in Multichain Exploit Case

RSS3 (RSS3) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

OrdiZK bridge vanishes in alleged $1.4M rug pull: CertiK

Bitcoin traders dismiss ‘triple top’ as BTC price stops $150 from $69K

Join our free newsletter for daily crypto updates!