Bitcoin (BTC) Price Prediction: Samson Mow Doubles Down on His $1 Million Forecast, Here\'s When It May Happen

Samson Mow, a Bitcoin maximalist and the boss of the Bitcoin-focused company Jan3, has taken to his account on the X social media platform (formerly widely known as Twitter) to break an ultra-bullish Bitcoin price forecast to the global crypto community.

Samson Mow, Bitcoin Maximalist, Still Insists BTC Price Will Hit $1 Million, Here's His Reasoning

Samson Mow, a Bitcoin maximalist and the head of Bitcoin-focused firm Jan3, has shared an optimistic Bitcoin price prediction with the crypto community on his X (formerly known as Twitter) page.

Mow has reiterated his $1 million Bitcoin price prediction, which he first shared earlier this year.

"Bitcoin going to $1 million," Mow stated.

Samson Mow also commented on the massive Bitcoin transactions made by cryptocurrency exchange Mt. Gox today. The platform began moving both Bitcoin and Bitcoin Cash in preparation for creditor payouts. Mt. Gox moved nearly $6 billion in BTC today, contributing to a slight decline in the BTC price.

Earlier this week, Samson Mow tweeted that he does not believe Bitcoin will ever again drop below the $60,000 price level. The flagship cryptocurrency has recently begun to recover following a sell-off sparked by the German government, which sold 50,000 BTC in several transactions to crypto exchanges such as Coinbase (NASDAQ:COIN), Kraken and Bitstamp.

Samson Mow on Mt. Gox's large Bitcoin transactionss

Samson Mow does not anticipate the Mt. Gox payouts having a major impact on the Bitcoin price. He predicts that only 20% of this Bitcoin will enter the market. The Jan3 head expects the remaining 80% to either be moved to cold storage wallets or be locked up in financial applications as users take out loans against this Bitcoin.

However, Mow is convinced that 100% of the Bitcoin Cash that Mt. Gox returns to creditors will be sold by the recipients.

Bitcoin fell by about 3.7% earlier today, dropping back to the $62,500 zone. This decline was followed by a slight recovery. At the time of writing, Bitcoin is trading at $63,815.

This article was originally covered on U.Today

The above is the detailed content of Bitcoin (BTC) Price Prediction: Samson Mow Doubles Down on His $1 Million Forecast, Here\'s When It May Happen. For more information, please follow other related articles on the PHP Chinese website!