Bitcoin’s Meteoric Rise to $1 Million
The CEO of Jan3 and Bitcoiner, Samson Mow, has reiterated his ultra-bullish prediction for Bitcoin. According to Mow, Bitcoin’s rise to $1 million will happen in “days to weeks.” While the starting point for this surge is yet to be determined, Mow believes that the max pain theory is still in play.
The Max Pain Theory and Bitcoin Bulls
Mow’s bullish prediction is based on the max pain theory, which suggests that a certain Bitcoin price could cause options traders to experience maximum loss. In Mow’s opinion, Bitcoin bulls have already experienced this loss after the approval of Spot Bitcoin ETFs. He believes that bears may soon experience some pain as well.
Huge Demand and Limited Supply
Mow predicts that there will be a huge demand for Bitcoin following the approval of Spot Bitcoin ETFs. He argues that the existing supply will not be able to meet this demand, especially with the upcoming Bitcoin Halving event on the horizon. Mow previously mentioned that Bitcoin will reach a new all-time high before the Halving takes place.
Hot Take: Will Bitcoin Reach $1 Million Sooner Than Expected?
Samson Mow remains steadfast in his belief that Bitcoin will reach $1 million in a short period of time. With the max pain theory and increasing demand for BTC, Mow’s ultra-bullish prediction seems plausible. As the market evolves and more catalysts come into play, it will be interesting to see if his forecast becomes a reality sooner than expected.
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