- There is currently deep interest in the price of Bitcoin (BTC) following the approval and launch of the spot Bitcoin Exchange Traded Fund (ETF).
- Samson Mow sparked a discussion when he declared that the Max Pain Theory is still in play for Bitcoin.
- Mow is optimistic that there will be a significant flow of funds into Bitcoin, leveraging the large capital base of major market participants like BlackRock Inc., Fidelity Investments, and VanEck.
Jan3’s founder, Samson Mow, attracts attention with his latest prediction regarding the Bitcoin price: How many dollars will BTC go to?
Market Expert Samson Mow’s Bitcoin Prediction
There is currently deep interest in the price of Bitcoin (BTC) following the approval and launch of the spot Bitcoin Exchange Traded Fund (ETF). With expectations that the spot Bitcoin ETF will benefit the digital currency, market expert and founder of the investment firm Jan3, Samson Mow, is drawing attention with his recent prediction for Bitcoin’s price. In alignment with his previous bullish call for BTC, the highest-valued cryptocurrency, Mow predicts that the price will reach $1 million within days or weeks.
Samson Mow sparked a discussion when he declared that the Max Pain Theory is still in play for Bitcoin. According to the definition by Upstox, the Max Pain Theory “indicates that on the day of expiration, the underlying index/stock price moves towards a point that inflicts the maximum loss (pain) to the maximum number of option buyers. Alternatively, it also means the minimum loss to option sellers.”
Here, holders of high-value Bitcoin force sales until the asset becomes profitable. The emergence of the spot Bitcoin ETF last week served as a “sell the news” moment, as withdrawals from the Grayscale Bitcoin Trust (GBTC) shares brought the asset’s price down to $42,460.16 last week.
Samson Mow is optimistic about the realization of a $1 million Bitcoin (BTC) price but believes the starting point will be determined later. While the price of Bitcoin dropped by 0.50% to $42,690 in the last 24 hours, the market cap decreased to $838,531,752,412.
Spot Bitcoin ETF Catalyst
Samson Mow, a significant advocate for Bitcoin, is currently optimistic about the potential of the spot ETF product traded in the U.S. markets, banking on the large capital base of major market participants. Mow is optimistic that there will be a significant flow of funds into Bitcoin, leveraging the large capital base of major market participants like BlackRock Inc., Fidelity Investments, and VanEck.
The spot Bitcoin ETF product had a good start upon its trading debut, fueling hopes that it will trigger more mainstream adoption in the medium to long term, validating price predictions by Samson Mow and others.
