The odds of Bitcoin reaching $200,000 are growing increasingly likely, according to expert and maximalist Samson Mow. The CEO at Bitcoin adoption-oriented company Jan3 shared a post to X revealing the bullish outlook. Mow believes that one day soon, the asset will explode in price again, and we will wake up to the cryptocurrency reaching $200,000.
“The Bitcoin coil is super compressed now,” Mow said in a post to X. “The longer we go without a Godzilla candle, the more likely it is to get an Omega.” The year 2024 ushered in a bullish wave for BTC, thanks to the approval of Spot Bitcoin ETFs. At present, Bitcoin is hovering at $65,312.60. Despite a bearish week, the cryptocurrency adopted a stance that has the token gunning for a huge price ascent.
In response to a comment under the post asking about waking up to the coin reaching $200K, The $1 million per Bitcoin believer Mow responded “Yes.”
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Many analysts have predicted this summer to be huge for Bitcoin, with expectations coming in for the asset reaching $100,000. However, the cryptocurrency market is highly volatile and cuts both ways delivering massive losses to investors. There is no guarantee that Bitcoin could climb above the $100,000 mark before the end of June. Similarly, it may take some time for the asset to reach anywhere close to $200,000.
While Samson is very optimistic about the future of the leading crypto asset by market cap, the coin’s future is unpredictable. FOMO (fear of missing out) surrounds Bitcoin and is a leading cause of the coin’s price hikes.