$1 Million Bitcoin Price Prediction Dangerous? Samson Mow Responds

Samson Mow, the vocal Bitcoin proponent and CEO of the Bitcoin adoption-focused JAN3 company, has published a post to respond to those crypto community members who have been labeling his constant $1 million BTC predictions as “dangerous.”

Commenting on those “alerts”, Mow tweeted: “What’s with people commenting that my $1.0M #Bitcoin call is dangerous? LOL!”

Like what’s the danger? Someone might buy a few less plastic trinkets and stack more sats? Or someone might mortgage their house to go all-in? ?

— Samson Mow (@Excellion) September 11, 2024

In the comment thread, the JAN3 boss added that the “danger” is most likely that “Someone might buy a few less plastic trinkets and stack more sats?” perhaps meaning altcoins by those “plastic trinkets.” Another danger, he said, is that “someone might mortgage their house to go all-in” on Bitcoin.

Mow reminded the X audience that he had heard similar remarks about “dangerous Bitcoin calls”, in the past when he predicted BTC surging to the $30,000 level.

At the start of the year, Mow actively tweeted that he expected the largest cryptocurrency in terms of market capitalization size to skyrocket to $1 million in the near future. Back then, he named two main drivers that would trigger that surge. The first one was the Bitcoin halving which was approaching. The second one was the fact of the SEC granting approval for spot Bitcoin exchange-traded funds in January.

Mow believed that the halving would definitely create a supply shock for BTC, while the ETFs (as they started to accumulate all Bitcoin within their reach) would soon make a demand shock for Bitcoin. According to him, as soon as those shocks meet, Bitcoin would soar to $1 million.

In one of his summer tweets, Mow predicted that Bitcoin would reach $1 million within the next year.

$850 million in Bitcoin dumped on market

On Tuesday, crypto analyst Ali Martinez famous on the X platform for his frequent posting of cryptocurrency charts about price predictions and large market moves, shared data provided by CryptoQuant.

It revealed that a massive sell-off of $850 million worth of Bitcoin had been performed by short-term traders who decided to take advantage of the BTC rise. From Monday to Tuesday, Bitcoin put up an impressive 6% price increase, soaring from the $56,500 zone to the $57,940 local high.

In the past 24 hours, however, the largest crypto has fallen back to $56,500, declining by 2.47%.

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