A Roadmap To Next Rally? – Crypto News – Crypto News
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A Roadmap To Next Rally? – Crypto News

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2 years ago

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Bitcoin advocate and CEO of Jan3, Samson Mow, has pinpointed a range of macroeconomic indicators that could signal an impending rally for Bitcoin. Mow focuses on exchange-traded inflows (ETF), Bitcoin’s Hashrate, and whale activity on prominent exchanges like Bitfinex.

The Jan3 CEO also mentioned the 200-week moving average (WMA) in forecasting Bitcoin’s trajectory. The recent data shared by Cypherpunk on X highlighting significant whale accumulation on Bitfinex further supports Mow’s Bitfinex whale indicator, suggesting an increased interest from large-scale investors in the flagship crypto.

Broader Economic Indicators

Mow also looks beyond the crypto-specific data, considering global economic factors like Tether’s USDT Assets Under Management, government debt payments, and Debt-to-GDP ratios. The Bitcoin advocate believes these factors, along with nation-state adoption of Bitcoin, real inflation rates, and M3 money supply, could profoundly impact Bitcoin’s performance.

Notably, Samson Mow has remained steadfast in his ambitious prediction for BTC, maintaining a $1 million price target for the crypto. Mow recently cautioned about the potential ‘max pain‘ accompanying a rapid ascent of Bitcoin to this monumental valuation.

Furthermore, Mow has recently suggested that this significant price milestone could materialize relatively quickly, possibly within days or weeks. However, according to the Jan3 CEO, the starting point for this potential surge is “TBD” (to be disclosed).

Bitcoin Latest Trajectory And Prediction

Despite a recent dip below $39,000 last week, BTC has shown a slight increase, with an uptick bringing its price above $42,000. This recovery, though slight, aligns with the optimistic predictions of various analysts and experts, including Samson Mow.

BTC price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

SkyBridge Capital’s founder, Anthony Scaramucci, has also joined the chorus with an optimistic prediction for Bitcoin. Scaramucci’s analysis suggests a potential 300% increase in Bitcoin’s value post-halving, with a long-term price target of $400,000.

His estimates, based on historical data and market trends, indicate that the peak bullish period for BTC could be about 18 months after the halving event. These predictions are further supported by the recent developments in Bitcoin ETFs, including the filing of the first-ever Bitcoin spot ETF in Hong Kong, indicating a growing institutional interest in BTC.

Featured image from Unsplash, Chart from TradingView

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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