Famous entrepreneur and Bitcoin enthusiast Samson Mou did made a bold prediction about the future of Bitcoin, saying that its value could reach $10 million. The announcement came amid a relative lull in the cryptocurrency market, with the price of Bitcoin stabilizing at $27,000 since mid-May.
Mou believes that the current sideways trend is due to the fact that large investors are unloading their Bitcoin holdings. Once their limited supply is exhausted, the market may begin to rise again. He also pointed to data confirming underlying trading where BTC is the collateral rather than a bitcoin ETF, and highlighted that buying activity is still occurring through CME futures, indicating latent demand.
The analyst supported the analysis of British businessman Adam Beck, who noted the growth of short interest from new, less experienced traders. He believes that significant shorting activity in futures is unsustainable, and those who participate in it may soon face a mass liquidation, which will lead to an increase in the price of Bitcoin.
As CEO of JAN3, Mou has consistently shared optimistic predictions for the future of Bitcoin, basing his predictions on current supply and demand dynamics, emphasizing that demand for the cryptocurrency far exceeds its available supply.
