Bitcoin Bull and CEO Samson Mow Predicts Imminent Supply Shock, Foresees BTC Price Surge to $1 Million
Samson Mow, the CEO of JAN3 and a well-known Bitcoin advocate, has made a bold prediction regarding the future price of Bitcoin. Mow believes that a significant supply shock is on the horizon, driven by the approval of Bitcoin ETFs and ongoing market adjustments, which could propel the cryptocurrency’s price to an astonishing $1 million within a matter of days or weeks.
Mow shared his forecast on X (Twitter), stating, “Here’s why we’re going to $1M Bitcoin in DAYS to WEEKS: it’s MAX PAIN pain for the most people.” He elaborated on several factors that contribute to his prediction, highlighting potential consequences and challenges that may arise if Bitcoin were to experience such a rapid surge.
One of the key elements in Mow’s reasoning is the anticipated demand stemming from recently approved Bitcoin ETFs. He suggests that this demand, combined with ongoing market adjustments, could create a scenario where Bitcoin reaches $1 million faster than many anticipate.
Here’s why we’re going to $1M #Bitcoin in DAYS to WEEKS: it’s MAX PAIN pain for the most people.
Bitcoin has a way of doing what we least expect & in the most disruptive way. For example, at JAN3 we have many plans & meetings set for 2024. $1M BTC would derail everything.
— Samson Mow (@Excellion) January 9, 2024
However, Mow also acknowledges the disruptive nature of Bitcoin and the potential negative impacts of such a rapid increase in price. He points out various implications, ranging from challenges for companies like JAN3 to global economic shifts and the potential repercussions for well-known figures in the financial world.
Mow’s concerns include the possibility of derailing carefully planned initiatives and meetings for JAN3 in 2024, as well as the potential disruption of the Stock-to-Flow (S2F) model proposed by analyst Plan B. He also highlights challenges with Bitcoin’s Lightning network, the goals of companies like MicroStrategy, and the consequences for countries like El Salvador looking to issue Bitcoin bonds.
Furthermore, Mow humorously speculates about the reactions of individuals such as Peter Schiff and goldbugs, envisioning a collective mental breakdown in the wake of a rapid Bitcoin price surge. He also suggests that the global population would miss a significant economic opportunity if Bitcoin were to reach $1 million quickly.
In his X thread, Mow emphasizes the need for individuals and businesses to plan accordingly, as a rapid shift to a $1 million Bitcoin could catch many unprepared. He foresees a scenario where the entire legacy financial system would need to quickly adapt to Bitcoin as the new base, posing challenges for businesses and companies unprepared for such a transition.
- Scaramucci Anticipates Bitcoin Bulls Eyeing $100,000 Surge Following SEC’s Approval Of First U.S. Spot Bitcoin ETF
Bitcoin Faces Uncertainty As NVT Golden Cross Hits -2.37: Caution Advised For Investors