Cryptocurrency

Mow explains Bitcoin’s price with $1 million gameplan, emphasizing its potential for growth and adoption.

Samson Mow Predicts Bitcoin Price to Reach $1 Million

In a recent analysis, Samson Mow, a prominent advocate for Bitcoin (BTC) and CEO of Jan3, has provided insights into the potential factors that could drive the price of Bitcoin to $1 million. Mow emphasized the importance of supply and demand dynamics in the context of the spot Bitcoin ETF product, shedding light on the rate of accumulation that could play a crucial role in achieving this ambitious price target.

Impact of Spot Bitcoin ETF on Accumulation

Mow highlighted the significance of the spot Bitcoin ETF, which is a regulated investment product involving the accumulation of Bitcoin. Drawing comparisons with MicroStrategy’s significant Bitcoin accumulations, Mow pointed out that the average daily Bitcoin stack for the BlackRock iShares Bitcoin Trust and Fidelity Investments’ FBTC product is approximately 4,700 BTC and 4,200 BTC, respectively. The combined buy-ups amount to about 9,000 BTC, signaling a potential supply crunch once the spot Bitcoin ETF product reaches full maturity.

- Advertisement -

Bitcoin Halving and Supply Shock

Adding to the intrigue is the forthcoming Bitcoin halving event, which Mow believes will complement the growing supply shock. With an estimated production of 900 BTC daily and a combined daily purchase of 9,000 BTC by two spot Bitcoin ETF issuers, the demand for Bitcoin is expected to surpass the supply by 10x. Mow anticipates that the halving will further increase the demand to 20x the supply, thereby positively impacting the price of Bitcoin.

Samson Mow’s $1 Million Bitcoin Price Forecast

Samson Mow has consistently defended his $1 million Bitcoin price forecast. With his latest analysis, he advises money managers to plan accordingly, considering the potential impact of the spot Bitcoin ETF and the forthcoming Bitcoin halving event on the price of Bitcoin.

This article was originally published on U.Today

Latest stories

- Advertisement - spot_img

You might also like...

Disclaimer : All investing Involves Risk. We are not affiliated with any platform that we use for advertising, product functionality, or communication. Our site is for educational use only and should not be considered as investment or financial advice. All indicators are developed by Bigbull trading indicators and sold exclusively at https://bigbulltradingindicator.com/. All products that are sold at https://bigbulltradingindicator.com/ are intended for assisting with making trading decisions and must not take as an official financial advice. The past performance doesn't guarantee any future results. Users must be aware of the risk when trading the Forex or the financial markets. Bigbull trading Indicator cannot accept responsibility for any exclusion or errors to the accuracy of information contained on this Site. We advocate that individual seek advice from professional and accredited financial advisor before completing any transaction. Please carefully consider your investment goals, risk and experience you have. It should be noted that trading or investment in Stock, Forex and all other market is subject to market risk, Don’t trade with money you can’t afford to lose, If you decide to invest real money, all trading decisions should be your own, there are no guarantees or certainties in trading, Most people lose money with trading without experience and proper knowledge, If you are looking for guaranteed income, trading or investment is not for you. We are not a registered investment adviser and we do not provide trading or investment advice or recommendations, we are also not regulated by the any financial authority, we will not provide any specific trading or investment advice and does not take into consideration the investment needs of any particular investor or investors. Nothing in this website should be construed as trading, investment, tax, legal or other advice. Signals generated by the Indicators, strategies, tools, programs, products and system are not investment recommendations. All materials on bigbulltradingindicator.com, as well as all system components including indicators, strategies, tools, programs, products, instruction manual, and systems are for educational purposes only, creators, suppliers, officers, directors, employees, advertisers, developers, sponsors, affiliates, representatives and agents of the Indicators, strategies, tools, products, programs and systems on bigbulltradingindicator.com will not take any warranties, responsibility for any profit or loss/damage caused by using the Indicators, strategies, tools, programs, products and systems, you may seek professional advice if required. bigbulltradingindicator.com and its creators, suppliers, officers, directors, employees, advertisers, developers, sponsors, affiliates, representatives and agents do not warrant that your use of the services, indicators, strategies, tools, programs, products, systems and instruction manual of bigbulltradingindicator.com and its affiliated sites will be uninterrupted, error-free, virus-free, secure, or harmful, we will not take any guarantee of the accuracy or completeness of any information we publish, any opinions that we publish may be wrong and may change at any time Use of our information, services, indicators, strategies, tools, programs, products, systems and instruction manual should be based on your own due diligence and you agree that we are not liable/ responsible for any success or failure of your business/investment/trading that is directly or indirectly related to the purchase and use of our services, indicators, strategies, tools, programs, products, systems and instruction manual. The internet and email is not 100% reliable. Sometime you will not receive an email/notification from us due to any technical error and we are not responsible for that, if you do not receive any expected email/update you may check your spam folder, we are not responsible for any communication failures You may find feedback/reviews/testimonials from clients and customers about the products and services offered on this website the results/reviews by these clients/customers are not necessarily typical and there is no guarantee of results that you or anyone else will get same result by using any information, services, indicators, strategies, tools, programs, products, systems and instruction manual offered by bigbulltradingindicator.com, past performance of any information, services, indicators, strategies, tools, programs, products, systems and instruction manual is not a guide to future performance. The information contained on this website is provided as-is, is subject to change without notice and no guarantee is made as to its accuracy, completeness or fitness for a particular purpose

© 2023 All Rights Reserved By BigBull Trading Indicators