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NEW YORK – In the face of recent price declines, prominent Bitcoin advocate Samson Mow has expressed confidence in the cryptocurrency's long-term potential, dismissing the idea that it could fall to $30,000, as some investors fear. Despite a 4.3% trading loss today, with Bitcoin price hovering just above $39,000, Mow remains steadfast in his bullish outlook for the digital currency.
On the same day, the exchange-traded fund (ETF) market saw notable movements. Grayscale, a leading cryptocurrency investment firm, experienced significant outflows, with over 14,000 BTC leaving its holdings. In contrast, Fidelity, another major investment firm, reported inflows exceeding 5,000 BTC.
Mow's optimism extends to an ambitious price target for Bitcoin, suggesting it could eventually rise to $1 million. This bold statement comes with no set time frame, but underscores a strong belief in Bitcoin's growth trajectory amid current market fluctuations.
The contrasting activities of the Grayscale and Fidelity ETFs highlight the ongoing adjustments and different strategies among investors in the cryptocurrency space.
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