Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Samson Mow, chief executive officer at Bitcoin-focused company Jan3 and a renowned BTC maximalist, has commented on the latest Bitcoin price surge, which allowed the biggest cryptocurrency to regain the $71,000 price mark.
Mow has again predicted the coming of an Omega Bitcoin candle soon. An Omega candle, as Mow explained in a recent interview and in multiple tweets, is a large trading candle on a Bitcoin chart accompanied by high volatility moves.
Bitcoin reclaims $71,000
The world’s flagship cryptocurrency, Bitcoin, has finally succeeded in climbing back above $71,000 – the highest price level since April 1, when BTC traded at a peak of $71,330. Before that, in the middle of March, BTC surprised the crypto community by finally reaching a new all-time high of $73,750 on the wave of spot Bitcoin ETFs purchasing all BTC within their reach.
This time, the likely reasons behind Bitcoin’s abrupt recovery (a 6.05% rise within 24 hours) were the positive CPI data, which showed a weakening inflation rate, and also a whole week of positive inflows into the above-mentioned exchange-traded funds that track the Bitcoin spot price.
Related
Michael Saylor comments on Bitcoin surge
Another renowned Bitcoin maxi and evangelist, founder of MicroStrategy giant Michael Saylor, has also shared his take on the recent BTC price surge, which took the flagship crypto closer to its latest historic price peak.
Saylor tweeted that “the price of BTC is still less than $0.08 million.” That sounded like a hint at the next big level he expects Bitcoin to hit soon. On Sunday, MicroStrategy founder and chairman published a tweet in which he hinted at the next price milestones he believes BTC may soon reach as well – $69,000, then $89,000 and $90,000. The first prediction has come true as Bitcoin flashed past the $69,000 level already.
When that “prediction” was made, Bitcoin changed hands slightly above $67,200. Overall, MicroStrategy’s bet on the digital gold remains massive. The company started buying BTC chunks on a regular basis with its free cash in August 2020. By now, the business intelligence giant’s crypto stash comprises 214,400 BTC – that is the equivalent of more than $7.5 billion in fiat. The most recent acquisition was made in April, when Saylor’s company purchased 122 BTC, paying $7.8 million for it.
