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Gene Simmons, a rock legend and the frontman of KISS, has taken to social media to address his army of fans with a statement about a subject he does not touch too often: Bitcoin.
Simmons recommends holding Bitcoin
Gene Simmons posted a tweet sharing his personal philosophy about the world’s crypto leader, Bitcoin. The rock star firmly believes that the community needs to hold BTC long term. He stated that he believes in the future. Presumably, this could mean that he also believes in the bullish future of Bitcoin.
However, Simmons warns that everyone needs to do their own research on BTC and then make their own decision whether to buy BTC or not.
Bitcoin drawdown is unfair: Samson Mow
Bitcoin evangelist and JAN3, Samson Mow, has commented on the current Bitcoin plunge, which has made BTC shed almost 20% over the past week. Mow mentioned its huge magnitude but stated that it is not it that makes this price fall “horrible” – it is “because it’s unfair,” he tweeted.
Mow shared his disappointment, saying, “Everything goes up, but we are sideways.” Bitcoin, he continued, declines for whatever possible reason that emerges in the market, such as “AI bubble fears” and the crash of gold and silver.
However, the JAN3 boss remains optimistic about the future of BTC. The main cause for this is Bitcoin’s scarcity, he reminded everyone in the tweet. Eventually, he believes that the circulating Bitcoin supply hit its limit and the price will begin to rise. “We can’t be pushed down forever.”
In a tweet published earlier today, Mow shared his view that, currently, Bitcoin should be trading at $0.11 million per coin, while it is in reality changing hands at $69,440. A week ago, one BTC cost $90,000.
Meanwhile, Mow reckons that gold should be trading at around $0.17 per ounce, based on its fair market value. Recently, gold skyrocketed above the $5,000 level for the first time in history, but then on January 30, both gold and silver collapsed by 30% in a single day, pulling Bitcoin along with it. Citing the Bitwise CIO, Mow says that the Bitcoin bear market is supposed to be moving to an end. However, Mow himself disagrees that we are in a bear market, since last year in October, BTC hit an all-time high of $126,000.
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