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Bitcoin to Reach New Important ATHs in 2024, Samson Mow Believes

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Sat, 30/12/2023 - 10:51
Bitcoin to Reach New Important ATHs in 2024, Samson Mow Believes
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Prominent Bitcoin proponent Samson Mow used to work at Blockstream, a company founded by cypherpunk and cryptographer Adam Back, who many believe to be the real Satoshi Nakamoto. In March this year, Mow quit his job there and as chief executive at Jan3, a Bitcoin-focused technology company that is striving to spread “hyperbitcoinization,” according to Mow’s LinkedIn profile.

As part of Jan3, Mow has also helped El Salvador with its Bitcoin strategy and overall BTC adoption. In a recent post on Twitter/X, Mow has voiced several bullish forecasts for 2024 to do with Bitcoin.

Samson Mow’s Bitcoin predictions for 2024

In his tweet, the Jan3 chief executive wrote that he expects to see Bitcoin reaching a new all-time high; perhaps even watch the world’s flagship cryptocurrency achieve what Mow predicted earlier — reach the $1 million price mark. In 2021, Bitcoin reached a historic peak of roughly $69,000 and is currently trading at $41,618, that is approximately 40% below the ATH.

The reasons he expects it to happen are the approaching Bitcoin halving event in April 2024 and the massive influx of financial institutions’ money that Bitcoin witnesses at the moment. Besides, leading Wall Street funds, such as BlackRock, Fidelity, Ark Invest and about 10 others, are expecting the SEC to approve the filings they submitted to launch Bitcoin spot ETFs.

The cryptocurrency community expects the regulator to issue the approvals in January or later within the first quarter of 2024.

Mow also expects three more nation-states to adopt Bitcoin as their national currency, following El Salvador; he believes Jan3 to engage 10 more countries and Liquid Bitcoin Network to go mainstream. He also shared predictions about several other Bitcoin-based companies to expand next year.

Related

Bitcoin eyes $50,000 before correction: Analyst

Crypto analyst Ali Martinez has tweeted to say that Bitcoin may potentially reach the $50,000 level, presumably soon. However, there is a catch here. He mentioned that in 2016 and 2019, Bitcoin was hit with a 40% market correction after it reached the 0.786 Fibonacci retracement level.

It happened after Bitcoin first soared after finding a market bottom. Therefore, Martinez says that he expects BTC to reach $50,000, but then, if history repeats itself, BTC may face a 40% correction again.

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