Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In a recent social media post, prominent Bitcoin supporter Samson Mow stated that he does not believe in the price of the world’s flagship cryptocurrency dropping as low as $30,000.
In the tweet, Mow referred to rumors and opinions that have been reaching his ears recently about a large number of investors hoping that Bitcoin is going to drop to the $30,000 range (“$0.03 million range” as Mow referred to it) in order to begin stocking up on BTC at those levels.
“I think they’ll be disappointed,” Mow concluded.
In the meantime, the global leading digital currency has dropped below the $40,000 level over the past 24 hours as investors continue to get out of Bitcoin ETFs, and from Grayscale in particular. Yesterday, Grayscale saw a massive outflow of 14,292 BTC evaluated at approximately $565.84 million.
Unlike Grayscale, eight other spot Bitcoin ETF issuers have acquired 9,755 BTC worth $386.24 million. Fidelity, in particular, saw an inflow of 5,312 BTC worth $210.33 million.
At the time of this writing, Bitcoin is changing hands at $39,062, having declined by 4.33% within the past 24 hours.
“Wen $1 million” for Bitcoin?
The Bitcoin community responded with mixed comments in reaction to Mow’s aforementioned tweet. According to the responses, many would not mind Bitcoin dropping that low in order to buy more digital gold. Many Twitter users who emerged in the comments to Mow’s tweet said they plan to start buying more as soon as Bitcoin drops a little lower than where it is now.
Mow is a believer that Bitcoin will definitely hit $1 million in the future, and he now sees Bitcoin prices under $100,000 in the “$0.0…” million scale as in the tweet, where he referred to $30,000 as “$0.03 million.”
However, Mow does not name any particular time when he expects Bitcoin to surge to $1 million, therefore, all his recent tweets about “Bitcoin going to $1 million” sound rather metaphorical. He recently elaborated on X as to why BTC did not reach that high level after the spot Bitcoin ETF approval – because he had made his million USD predictions “for fun” and also to emphasize that the overall market foundations have changed radically for Bitcoin.
Godfrey Benjamin
Tomiwabold Olajide
Gamza Khanzadaev
