Crucial BTC Price Level for Bitcoin Bull Run Revealed by Samson Mow

Samson Mow, the CEO of Jan3, recently shared insights on his X account regarding the potential price points for Bitcoin. He discussed the recent downturn that has impacted the cryptocurrency market.

The Potential Start of a Bitcoin Bull Run According to Mow

Mow addressed the global cryptocurrency community, predicting that Bitcoin could initiate a significant bull run once it reaches the $100,000 mark. He referred to the current market decline as "the fakery to make retail think Bitcoin is over." His remarks indicate that he sees this price level as crucial for a resurgence.

In the last 24 hours, Bitcoin managed to bounce back to around $66,000, achieving a slight increase of 5.34% after a previous drop of 4%. This decline followed the news that the defunct Mt. Gox crypto exchange had begun transferring approximately $6 billion worth of Bitcoin to reimburse creditors impacted by the exchange’s infamous 2014 hack.

Reports indicate that various cryptocurrency exchanges, including Kraken, have begun to receive these funds and plan to distribute them to creditors within the next one to two weeks. At the time of writing, Bitcoin was trading at approximately $65,338 after a minor drop following the recent rise.

Mow’s Bold Prediction for Bitcoin

On July 16, Mow expressed confidence that Bitcoin will eventually reach $1 million, an increase he anticipates could occur within the next year. He suggested that only about 20% of the Bitcoin from the Mt. Gox reimbursements would be sold, with the remainder likely being moved to cold storage.