Samson Mow, CEO of JAN3 and a prominent Bitcoin advocate, has recently referred to Bitcoin’s price downturn as a “bear trap” in an X post.
This term describes a market situation where an asset’s price decline misleads traders into believing a further drop is imminent, prompting them to short the asset. However, instead of continuing to fall, the price reverses sharply upward, catching bearish traders off guard.
Despite Bitcoin’s recent 4% dip, dropping from approximately $87,500 to around $83,800 in the past two days, Mow remains firmly bullish on Bitcoin’s long-term potential. He has repeatedly forecasted that Bitcoin will reach $1 million per coin by 2025.
Mow’s bullish stance is centered around the concept of the “Omega Candle”, a massive price surge that could propel Bitcoin to the $1 million milestone. However, he has also expressed a “gut feeling” that this surge could happen much sooner, possibly within the next year or two. BTC’s surge hinges on multiple factors, including increasing institutional adoption, macroeconomic instability, and market dynamics. He attributes this potential surge to factors such as increasing institutional adoption and state-level Bitcoin reserves.
Institutions and governments are exploring Bitcoin reserves as a hedge against inflation. Meanwhile, rising inflation and growing distrust in traditional banking systems are pushing investors toward Bitcoin as an alternative store of value. For instance, lawmakers in South Carolina have introduced a bill to create a Bitcoin reserve aimed at protecting public funds from inflation.
Similarly, CNF reported that Brazil is moving in the same direction, signaling a growing trend of governmental Bitcoin adoption. Another factor that could accelerate Bitcoin’s rise is a gamma squeeze, a market event where rapid price increases force short sellers to buy back assets at higher prices, further driving up demand.
Market Insights
Other market analysts are also weighing in on Bitcoin’s trajectory, offering varying perspectives on its future. Ali Martinez, a well-known crypto analyst, recently highlighted market movements, noting in an X post that: “Long-term holders just moved 650 Bitcoin ($55 million) in the last few hours.” This movement suggests that seasoned investors may be repositioning ahead of potential volatility.
Meanwhile, Jurrien Timmer, director of global macro at Fidelity Investments, has explored Bitcoin’s long-term potential relative to gold. While gold has historically grown at an 8% compound annual growth rate (CAGR) since 1970, Timmer believes Bitcoin’s power law curve or internet S-curve model could allow it to catch up within a decade or two. However, he also pointed out that if Bitcoin’s growth accelerates, gold may follow suit, appreciating at a faster rate as a competing store of value. “Gold will always be Bitcoin’s quieter older sibling,” Timmer concluded.
Despite these bullish outlooks, Bitcoin has faced a 4% decline in the past 30 days, with its 24-hour trading volume dropping by 15.45% to $26.36 billion. As the month draws to a close, investor sentiment remains cautious, with upcoming U.S. tariffs set to take effect next week on April 2, a date the Trump administration has dubbed “Liberation Day.”