{"id":569576,"date":"2024-01-15T14:00:19","date_gmt":"2024-01-15T14:00:19","guid":{"rendered":"https:\/\/uniquehot.com\/?p=569576"},"modified":"2024-06-11T11:11:24","modified_gmt":"2024-06-11T11:11:24","slug":"bitcoin-to-reach-1-million","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-to-reach-1-million\/","title":{"rendered":"Bitcoin To Reach $1 Million In Days To Weeks, Crypto Analyst"},"content":{"rendered":"

The CEO of Jan3 and Bitcoiner, Samson Mow, has <\/span>once again<\/span><\/a> reiterated his ultra-bullish <\/span>prediction for Bitcoin.<\/span><\/a> The Bitcoin advocate noted that the \u2018Max Pain Theory\u2019 was still in play, and this is one of the reasons why he isn\u2019t backing down from his assertion that Bitcoin will hit this price level sooner rather than later.\u00a0<\/span><\/p>\n

Bitcoin\u2019s Rise To $1 Million To Happen \u201cIn Days To Weeks\u201d<\/h2>\n

Samson Mow stated in an X (formerly Twitter) <\/span>post<\/span><\/a> that his \u201cmain prediction\u201d is that Bitcoin\u2019s run to $1 million will happen in \u201cdays to weeks.\u201d However, he further claimed that the starting point for this meteoric rise has yet to be decided.\u00a0<\/span><\/p>\n

Related Reading: Solana Is Not Done: Analyst Identifies Bull Flag That Will Trigger Massive Rally Above $150<\/a><\/div>\n

The analyst\u2019s bullish prediction for Bitcoin stems from his belief in the max pain theory, which relates to a Bitcoin price that could cause most options traders to experience maximum loss. In <\/span>Mow\u2019s opinion<\/span><\/a>, Bitcoin bulls have experienced this loss following the approval of the <\/span>Spot Bitcoin ETFs<\/span><\/a>, and the bears could experience \u201csome pain soon.\u201d<\/span><\/p>\n

Right before the approval order came in, Mow <\/span>had predicted<\/span><\/a> that Bitcoin was going to surge to $1 million in \u201cdays to weeks\u201d and that most people were going to experience \u201cmax pain.\u201d These ETFs also form part of the basis for why he believes that Bitcoin will hit this price level soon enough, as Mow foresees a huge demand for btc following this.<\/span><\/p>\n

Mow <\/span>says<\/span><\/a> that the Bitcoin market is getting to a point where the existing supply <\/span>will not meet current demand<\/span><\/a>. He also alluded to the upcoming Bitcoin Halving, hinting that it could be one of the catalysts that will spark this parabolic rise in Bitcoin\u2019s price. Interestingly, he had <\/span>before now mentioned<\/span><\/a> that Bitcoin will hit a new all-time high (ATH) before the Halving event takes place.\u00a0<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC bulls struggle to reclaim control | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
A Market Adjustment Is Currently Ongoing<\/h2>\n
Mow also gave his opinion on the reason for Bitcoin\u2019s recent decline as he <\/span>noted<\/span><\/a> that the market was simply adjusting. He further explained that GBTC holders were currently rotating out, which was pushing Bitcoin\u2019s price down. He also alluded to how <\/span>MicroStrategy\u2019s stock<\/span><\/a> was \u201ctrading below BTC par value.\u201d<\/span><\/p>\n
Related Reading: How To Buy And Trade Tokens On The SEI Network<\/a><\/div>\n
Therefore, the crypto community needs to be patient as \u201ctime is needed for everything to recalibrate,\u201d Mow says. It shouldn\u2019t be long for that to happen, though, as the crypto analyst claimed that the <\/span>GBTC sell pressure<\/span><\/a> \u201cwon\u2019t be a long drawn out process.\u201d\u00a0<\/span><\/p>\n
He believes that many of GBTC\u2019s investors won\u2019t be able to offload their stocks because the \u201ctax hit is too big\u201d and that <\/span>Grayscale<\/span><\/a> will eventually capitulate on its fees. The asset manager currently has the <\/span>largest fee<\/span><\/a> among all Spot Bitcoin ETF issuers, and this is believed to be the reason why its investors are offloading their shares and rotating to other funds.\u00a0<\/span><\/p>\n
Featured image from Bitcoin News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The CEO of Jan3 and Bitcoiner, Samson Mow, has once again reiterated his ultra-bullish prediction for Bitcoin. The Bitcoin advocate noted that the \u2018Max Pain Theory\u2019 was still in play, and this is one of the reasons why he isn\u2019t backing down from his assertion that Bitcoin will hit this price level sooner rather than later.\u00a0 Bitcoin\u2019s Rise To $1 Million To Happen \u201cIn Days To Weeks\u201d Samson Mow stated in an X (formerly Twitter) post that his \u201cmain prediction\u201d is that Bitcoin\u2019s run to $1 million will happen in \u201cdays to weeks.\u201d However, he further claimed that the starting point for this meteoric rise has yet to be decided.\u00a0 Related Reading: Solana Is Not Done: Analyst Identifies Bull Flag That Will Trigger Massive Rally Above $150 The analyst\u2019s bullish prediction for Bitcoin stems from his belief in the max pain theory, which relates to a Bitcoin price that could cause most options traders to experience maximum loss. In Mow\u2019s opinion, Bitcoin bulls have experienced this loss following the approval of the Spot Bitcoin ETFs, and the bears could experience \u201csome pain soon.\u201d Right before the approval order came in, Mow had predicted that Bitcoin was going to surge to $1 million in \u201cdays to weeks\u201d and that most people were going to experience \u201cmax pain.\u201d These ETFs also form part of the basis for why he believes that Bitcoin will hit this price level soon enough, as Mow foresees a huge demand for btc following this. Mow says that the Bitcoin market is getting to a point where the existing supply will not meet current demand. He also alluded to the upcoming Bitcoin Halving, hinting that it could be one of the catalysts that will spark this parabolic rise in Bitcoin\u2019s price. Interestingly, he had before now mentioned that Bitcoin will hit a new all-time high (ATH) before the Halving event takes place.\u00a0 BTC bulls struggle to reclaim control | Source: BTCUSD on Tradingview.com A Market Adjustment Is Currently Ongoing Mow also gave his opinion on the reason for Bitcoin\u2019s recent decline as he noted that the market was simply adjusting. He further explained that GBTC holders were currently rotating out, which was pushing Bitcoin\u2019s price down. He also alluded to how MicroStrategy\u2019s stock was \u201ctrading below BTC par value.\u201d Related Reading: How To Buy And Trade Tokens On The SEI Network Therefore, the crypto community needs to be patient as \u201ctime is needed for everything to recalibrate,\u201d Mow says. It shouldn\u2019t be long for that to happen, though, as the crypto analyst claimed that the GBTC sell pressure \u201cwon\u2019t be a long drawn out process.\u201d\u00a0 He believes that many of GBTC\u2019s investors won\u2019t be able to offload their stocks because the \u201ctax hit is too big\u201d and that Grayscale will eventually capitulate on its fees. The asset manager currently has the largest fee among all Spot Bitcoin ETF issuers, and this is believed to be the reason why its investors are offloading their shares and rotating to other funds.\u00a0 Featured image from Bitcoin News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":569597,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[167,428,656,679,6848,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-569576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-price-prediction","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin To 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin To Reach $1 Million In Days To Weeks, Crypto Analyst","url":"http:\/\/uniquehot.com\/news\/bitcoin-to-reach-1-million\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-to-reach-1-million\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Bitcoin-12.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Bitcoin-12.png?fit=1280%2C720"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","bitcoin price prediction","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-01-15T14:00:19Z","datePublished":"2024-01-15T14:00:19Z","dateModified":"2024-06-11T11:11:24Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin To Reach $1 Million In Days To Weeks, Crypto Analyst\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-to-reach-1-million\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-to-reach-1-million\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Bitcoin-12.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Bitcoin-12.png?fit=1280%2C720\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"bitcoin price prediction\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-01-15T14:00:19Z\",\"datePublished\":\"2024-01-15T14:00:19Z\",\"dateModified\":\"2024-06-11T11:11:24Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Bitcoin-12.png?fit=1280%2C720","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/569576"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=569576"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/569576\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/569597"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=569576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=569576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=569576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}