Bitcoin (BTC) Price Prediction: Samson Mow Predicts $1 Million in Days to Weeks Amid Spot ETF Buzz.
Speculation sparks over spot ETF launch
Market expert Samson Mow is predicting a surprising rally in the price of Bitcoin, predicting it could reach $1 million in the coming days or weeks. The recent approval and launch of a spot Exchange Traded Fund has further strengthened the spotlight on the Bitcoin price. (ETF) Cryptocurrency tracking.
Maximum Pain Theory and Bitcoin’s Trajectory
samson Mow, The founder of investment firm Jan3 shook up the cryptocurrency community with his bold predictions. According to Mow, the Max Pain Theory, which refers to the concept that on the expiration date the price of the underlying asset moves toward the point that causes the greatest loss to the largest number of option buyers, Bitcoin still applies. Simply put, this means a scenario where holders of overpriced Bitcoin trigger a sell-off, making the asset attractively cheap for buyers.
The recent launch of a spot Bitcoin ETF triggered a “sell the news” moment, as seen in the stock withdrawal of Grayscale Bitcoin Trust (GBTC), which resulted in the Bitcoin price temporarily falling to $42,460.16 last week. brought.
Optimistic Outlook: Focus on $1M Bitcoin Price
Despite recent market fluctuations, Samson Mow remains optimistic about Bitcoin’s trajectory and expects it to surge to $1 million. The starting point for this incredible rise is yet to be determined, but Mow has made his predictions firm, declaring on his official X account: “Starting point undecided.”
Bitcoin’s current price is $42,788.46, down 3.24% over the last 24 hours, bringing its market capitalization to $838,531,752,412.
Spot Bitcoin ETF Catalyst: Fund Inflows Expected
Samson Mow, a prominent Bitcoin advocate, expressed optimism about the potential of the spot ETF product, which is currently actively traded in the US market. He expects significant inflows into Bitcoin, leveraging the massive capital holdings of major market players including BlackRock Inc., Fidelity Investments and VanEck.
The successful launch and initial performance of the spot Bitcoin ETF has sparked optimism within the cryptocurrency community. Mow’s optimistic forecast is consistent with his belief that increased mainstream adoption fueled by ETFs will contribute to Bitcoin’s impressive surge and validates the predictions of various industry experts.