The crypto-market was bleeding. From top to low cap assets, there was a big drop. Bitcoin [BTC] This downtrend was led by a 5% drop in the past 24 hours. BTC has also seen a drop of 7.33 % over the course of last week. The coin’s value was $61,112 at the time of publication. Samson Mow of Jan3 made a bold prediction while BTC struggled to stay above $61,000.
Mow believes that BTC’s value will reach $1 million in the coming year. Note that it’s not the first claim made by the BTC promoter. Mow forecasts $1 million in BTC for several years.
Mow’s latest forecast is based upon several factors. He suggests at first that Bitcoin could experience an uptick following what he calls the “emergence of what he terms as “Omega Candles” You can also find out more about “Godzilla Candles.” What is it that will make BTC produce these candles so soon?
Also Read: Mt. Gox Announces Bitcoin, Bitcoin Cash Payouts Next Month
What is driving Mow’s prediction?
Securities and Exchange Commission (SEC) of United States [SEC] Approving spot Bitcoin-based ETFs has changed the dynamics in the market. According to Mow, this is a major game changer in the industry. This opened up opportunities for institutional investors who wanted to invest in Bitcoin, while also increasing its demand.
Bitcoin is in a downward trend and close to falling below $60.000. Mow said, “When you see the Bitcoin price dropping, just remember where it inevitably must go.”
BTC’s recent drop can be attributed to a number of factors. The German government’s Bitcoin movement, the large BTC sales by BTC miners and the Mt. Gox announced its payout. It led to the liquidation more than 150 million dollars in bullish wagers.
Also Read: Standard Chartered to Launch Spot Bitcoin & Ethereum Trading Desk
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Source: watcher.guru
