According to BlockBeats, on September 7, Samson Mow, CEO of Bitcoin technology company Jan3, said, “Bitcoin traders predict that prices will return to the $40,000 level, which may be more out of fear than any technical fundamentals. Fear-driven markets will never last long because fundamentals will win out over time, and even if some of the worst frauds like FTX are exposed, they will not be able to push down the price of Bitcoin in the end. The short sellers say that Bitcoin will fall to $40,000, and there is no basis for this prediction except self-induced fear.”
“Bitcoin could easily hit $100,000, supported by $3 billion in debt per day, strategic Bitcoin reserves, pension allocations, and corporate purchases,” Samson Mow wrote in a Sept. 6 post. According to the Kobeissi Letter, a global market macro review, the U.S. government is paying $3 billion per day in interest on its debt, three times what it paid 10 years ago, and has doubled in just 2.5 years. “Crisis” is an understatement.
As previously reported, several analysts warned that prices could fall below $50,000 in the coming days. BitMEX co-founder Arthur Hayes posted on social media yesterday that “Bitcoin is expected to fall below $50,000 this weekend and shorted.”
