U.Today – Jan3 maximalist and CEO Samson Mow published a BTC-themed post on his Platform X account that sparked a wave of heated responses from the Bitcoin community.
Earlier today, Mow revised his post published Monday night and added a super bullish Bitcoin price prediction to it.
Mow's Bitcoin Bullish Statement
Samson Mow, the head of the company focused on Bitcoin adoption, on January 3, published a diagram showing the proportion of capital available in the market versus Bitcoin, in terms of that available in circulation and potentially minted through mining .
There are no digits in this diagram, but it makes it clear visually that the amount of BTC available is small compared to the amount of available capital that can be used to purchase it. Both the capital and Bitcoin are represented in the shape of a triangle and together look like an hourglass.
Mow tweeted today that as you “watch the price of Bitcoin fall, just remember where it inevitably goes,” thus making a bullish BTC price prediction. Mow is one of the maximalists who expects the world's flagship cryptocurrency to eventually reach the price level of $1 million per coin.
However, Mow also shared his surprise at Bitcoin's current decline despite the astonishing level of adoption that can be seen now: “It feels strange to see the price of #Bitcoin drop when we are at an unprecedented level of adoption. BTFD! BTFD, as he explained in the comments of that tweet, means “buy the friendly dip.”
The Bitcoin community reacts
In the comments to the tweet with the diagram, many Bitcoin fans pointed out that in reality the available capital triangle should be much larger and the available BTC triangle much smaller.
Mow responded that it is worth taking a closer look at the larger capital triangle, and then it will become obvious that “'available capital' goes outside the boundaries of the diagram.”
Bitcoin falls further
In the last 24 hours, Bitcoin has shown a sudden drop of almost 4%, falling from the $70,000 price level that it managed to recover on Monday to $67,453, where it is trading at the time of writing.
Over the weekend, BTC faced a similar price drop, falling from over $71,660 to the price of $69,000.
This article was originally published on U.Today.
