CDS Crypto News Samson Mow: Bitcoin Bearish Predictions Misguided, $100K BTC on the Horizon with Strategic Reserves
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Samson Mow: Bitcoin Bearish Predictions Misguided, $100K BTC on the Horizon with Strategic Reserves

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Samson Mow Bitcoin Bearish Predictions Misguided, $100K BTC on the Horizon with Strategic Reserves

Mow: Bitcoin Bearish Predictions Driven by Fear, Six-Figure BTC Supported by Debt and Corporate Holdings

Mow: Bitcoin Bearish Predictions Driven by Fear, Six-Figure BTC Supported by Debt and Corporate Holdings

According to Samson Mow, CEO of Bitcoin technology company Jan3, traders who believe the asset’s price will drop back to the $40,000 mark may be more motivated by fear than by technical factors.

Bears saying Bitcoin will drop to $0.04M have no basis for that prediction other than self induced fear,

Mow

A large amount of interest the US government pays on its loans every day and the increasing number of corporations holding the asset are two main reasons why Mow thinks Bitcoin may easily reach six figures, even if it has just traded below $60,000 over the last seven days.

Bitcoin can just as easily go to $0.1M and that is supported by brrrr, +$3B in debt per day, strategic Bitcoin reserves, pensions allocating, and corporations buying,

Mow

Bitcoin Fear Persists as US Debt Costs Soar, But Mow Predicts a Fundamental Rebound

Bitcoin Fear Persists as US Debt Costs Soar, But Mow Predicts a Fundamental Rebound

According to the Kobeissi Letter, the US government’s $3 billion daily interest expense on its debt has doubled in just 2.5 years and is triple what it was ten years ago. However, fear-driven markets are a passing phase, according to Mow, and fundamentals will ultimately win out.

Can fear move the market? Sure. But it never lasts long because the fundamentals win out over time. Even the unwinding of some of the greatest frauds like FTX can’t keep price down,

Mow

According to CoinMarketCap data, Bitcoin has not crossed above the critical $60,000 threshold since August 30. As of right now, it is trading at $54.407. A score of 23 indicates “Extreme Fear” according to the Crypto Fear & Greed Index. According to a report by Cointelegraph on September 5, several analysts have cautioned about a possible price fall below $50,000 shortly.

For more up-to-date crypto news, you can follow Crypto Data Space.

Samson Mow: Bitcoin Bearish Predictions Misguided, $100K BTC on the Horizon with Strategic Reserves
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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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