This was reiterated by the CEO Samson Mow on 3rd January, pointing out that a ‘fear-based market’ ‘never lasts long’ as fundamentals normally ‘override’ the market in the long run.
Some traders who believe that the value of the asset will come back to the $40,000 might do so out of fear rather than the likelihood of a technical analysis based on the chance of more rewards, says Samson Mow, CEO of the Bitcoin technology company, Jan 3.
“Bears saying Bitcoin will drop to $0, The opinions with which you bear saying Bitcoin will drop to $0 04M have no basis for that prediction other than self-induced fear,” Mow wrote in a Sept.
Mow says Bitcoin can “just as easily” reach $100,000
Even as Bitcoin BTC fell $54,382 below $60,000, Last week, Mow claimed that 6 figures is just as possible, highlighting macro drivers such as how much the US government pays a day on its debts and the number of businesses now holding BTC.
“Bitcoin can just as easily go to $0. 1M and that is supported by bar, +$3B in debt per day, strategic Bitcoin reserves, pensions allocating, and corporations buying,” he said.
Macroeconomic resource The Kobeissi Letter also pointed out that the daily interest expense on the US government debt is now $3 billion while it was one-tenth of that 10 years ago and has more than doubled within 2. 5 years.