U.Today – , the world’s leading digital asset, has had a turbulent recent experience as its price plummeted significantly despite market expectations. Although many investors have largely been left disappointed by the asset’s fluctuating performance, Samson Mow, a bullish Bitcoin enthusiast and CEO of Bitcoin adoption-focused company JAN3, has discovered a bullish setup for BTC.
The institutional rush to get exposed to Bitcoin
In a post shared on X, Mow revealed what will likely send the world’s leading digital asset soaring in a massive bull run. Mow identified an unprecedented “rush” among traditional institutions for exposure to Bitcoin.
According to Mow, central banks and large pension funds have increased their interest in the digital asset and are looking for exposure to Bitcoin. Additionally, public companies have increased their Bitcoin consumption as they make more acquisitions. Interestingly, mining companies have also joined the hunt for Bitcoin.
“This is an incredibly bullish situation. Plan accordingly,” Mow said.
According to data from CoinMarketCap, the price of Bitcoin at the time of writing is at $58,012.67, which is down 2.66% over the past 24 hours. However, market volume has increased significantly by 16.47%.
Is a Bitcoin price correction coming?
Interestingly, Mow attributed the digital asset’s current underperformance to incorrect pricing. He argued that given the growing interest of these institutional investors in Bitcoin, the price will soon reflect the growing demand. According to Mow, market forces will naturally correct the price and help Bitcoin regain its true value.
As previously reported by U.Today, Bitcoin registered a momentary surge to $69,404, the highest level since June 12. While the figure represents a significant jump from Bitcoin’s current price, experts consider it the strongest bullish sentiment for the asset in the past 16 months.
While Mow did not specify the likely price range this incredibly bullish setup will take Bitcoin to, market observers say the coming days will indicate whether the prediction comes true.
This article was originally published on U.Today
