Samson Mow believes that the predictions of a sharp decline in Bitcoin are driven by fear among traders/investors and are not based on real technical indicators:
“The bears talking about Bitcoin falling to $40,000 have no basis for this forecast – except fear. The cryptocurrency will easily reach a new high.”
According to the businessman, the price of the asset will be pushed up by the growing number of companies including BTC on their balance sheets, the increase in the number of American pension funds investing in cryptocurrency, and the issuance of new dollars by the US Treasury:
“Bitcoin could just as easily go to $100,000, and this is backed up by the printing press, +$3 billion in government debt per day, Bitcoin strategic reserves, pension distribution, and corporate acquisitions.”
Jan3 CEO stressed that the fear-driven market is temporary and that fundamentals will soon take over and a bull cycle will begin for Bitcoin and other cryptocurrencies.
Earlier, Samson Mow stated that he considers Bitcoin to be a difficult instrument to predict during periods of financial turmoil in the market.
Source: Bits
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