Samson Mow’s Prediction: Bitcoin’s Potential Surge to $100K Before Halving
Bitcoin (BTC) has surged from $42,208 to a record high of $73,737 in 2024, but it’s experienced a recent 16% retracement. Samson Mow, CEO of Jan3, a tech firm focused on global Bitcoin access, predicts BTC could hit $100,000 before the upcoming halving.
Bitcoin’s Recent Surge and Retracement
Starting the year at $42,208, Bitcoin skyrocketed to $73,737 in 2024, setting a new all-time high. Despite this, the price retraced over 16% as the Bitcoin halving approaches.
Samson Mow’s Confidence in Bitcoin’s Future
Mow has long predicted a strong upward momentum for Bitcoin and remains confident in its potential. He believes that Bitcoin will surpass its previous all-time high and could touch $100,000 before the halving.
Factors Driving Bitcoin’s Price
Mow attributes Bitcoin’s potential surge to the high demand from exchange-traded funds (ETFs), which currently consume about 7,000 coins per day. This demand highlights the scarcity of available coins, driving prices higher.
Bitcoin’s Potential Decoupling from Other Cryptocurrencies
Mow anticipates Bitcoin’s eventual decoupling from other cryptocurrencies, driven by substantial inflows from ETFs. Bitcoin enjoys a sizable capital pool, ranging from $500 million to $1 billion in daily inflows, which other cryptocurrencies lack.
Impact of the Bitcoin Halving
The Bitcoin halving, expected on April 20, historically triggers significant price rallies. Mow’s prediction of Bitcoin reaching $100,000 before the halving indicates his optimism about Bitcoin’s future performance.
Concerns About Other Cryptocurrencies
Mow points out that founders and insiders often prop up the prices of other cryptocurrencies before buying Bitcoin, leaving retail buyers at a disadvantage. He believes that while smaller cryptocurrencies may track Bitcoin’s performance initially, they will eventually lose momentum.
In conclusion, Samson Mow’s prediction of Bitcoin potentially reaching $100,000 before the halving reflects his confidence in Bitcoin’s future performance. With the halving approaching and strong demand from ETFs, Bitcoin’s price trajectory remains a key focus for investors and enthusiasts alike.
