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.
Samson Mow, an early Bitcoin investor, head of the Jan3 BTC adoption-focused company, has published an X post where he revealed when he expects the “Omega time” for the Bitcoin price to arrive.
He also made several interesting remarks regarding the Bitcoin halving event, which is expected later this week.
Here's when "Omega time" comes: Samson Mow
Bitcoin maximalist Samson Mow has tweeted that fear of certain negative developments in the Middle East caused a major Bitcoin price drop over the weekend, when the world’s leading cryptocurrency plunged by more than 13% and entered the $63,240 zone.
Since then and until Monday, Bitcoin was able to pare its losses, recapturing almost 9% and rising to the $66,635 level. However, another price blow followed, taking BTC 5% down to $63,280 where it is changing hands at the time of this writing. This was the only asset that crashed, Mow pointed out, since only it is only cryptocurrencies that trade over the weekend.
TradeFi markets have also had their share of panic today, Mow tweeted, but he believes all of this is nothing but overreaction and “will wash over soon.” Once it happens, he added, “then it will be Omega time” for Bitcoin.
Mow stressed Bitcoin halving's importance
The Jan3 boss also stressed the importance of the approaching Bitcoin halvening. Mow referred to it as “ the spark of a massive supply shock.”
Speaking about that, the influencer reminded the cryptocurrency community that the Bitcoin demand shock is being created right now as spot Bitcoin ETFs have been absorbing mammoth amounts of BTC since mid-January, when the SEC approved ETF trading to launch.
He also made a mention of the Bitcoin-Ethereum exchange-traded funds approved in Hong Kong earlier this week.
As for the markets, Mow believes that they are “confused about the Bitcoin halving.” He even assumed that most of them are probably unaware that halving exists. Some of them, per Mow, don't know whether the Bitcoin price will be pushed up or down thanks to the block reward decline. Some market participants are worried that many BTC miners may shut down their gear and quit the business. “So many will sit and wait until it’s clear what comes next,” Mow concludes.
Gamza Khanzadaev
Denys Serhiichuk
