Bitcoin advocate and CEO of Jan3, Samson Mow, has done just that localized a series of macroeconomic indicators that could point to an impending rally for Bitcoin. Mow focuses on exchange-traded inflows (ETF), Bitcoin’s Hashrate, and whale activity on prominent exchanges such as Bitfinex.
The Jan. 3 CEO also mentioned the 200-week moving average (WMA) when predicting Bitcoin’s trajectory. The recent data shared by Cypherpunk on
This is a great alpha van @Excellion. You can see for yourself the whales surfacing #Bitfinex are accumulating #Bitcoin. Decide what you want to do with that information. ???? https://t.co/IHjrqUvrDn pic.twitter.com/FS518AIYoz
— CYPHERPUNK (@cypherpunkstore) January 29, 2024
Broader economic indicators
Mow also looks beyond crypto-specific data, taking into account global economic factors such as Tether’s USDT Assets Under Management, government debt payments, and debt-to-GDP ratios. The Bitcoin proponent believes that these factors, along with Bitcoin adoption by nation states, real inflation rates, and M3 money supply, could have a profound impact on Bitcoin’s performance.
These are the #Bitcoin macro indicators I look at:
⬆️ ETF inflows
⬆️ Hashraat
⬆️ Finex whale accumulation
⬆️ 200 WMA trend
⬆️ Tether USDt AUM
⬆️ Interest payments by the government on debts
⬆️ Debt-GDP ratios
⬆️ nation-state adoption of Bitcoin
⬆️ Real inflation
⬆️ M3 money— Samson Mow (@Excellion) January 28, 2024
Notably, Samson Mow has remained steadfast in his ambitious prediction for BTC, maintaining a $1 million price target for the crypto. Mow recently warned of the possible ‘maximum pain‘ which is accompanied by Bitcoin’s rapid rise to this monumental valuation.
Furthermore, Mow has recently suggested that this major price milestone could become a reality relatively soon, possibly within days or weeks. However, according to the CEO of Jan3, the starting point for this potential increase is “TBD” (to be announced).
My top prediction is that the run to $1 million will happen within days to weeks. Starting point to be determined further.
— Samson Mow (@Excellion) January 14, 2024
Bitcoin latest trajectory and prediction
Despite a recent dip below $39,000 last week, BTC has seen a slight increase, with a rebound taking the price above $42,000. This recovery, however small, is in line with the optimistic predictions of several analysts and experts, including Samson Mow.
SkyBridge Capital founder Anthony Scaramucci has done just that joined the chorus with an optimistic prediction for Bitcoin. Scaramucci’s analysis suggests a potential 300% increase in Bitcoin’s value after the halving, with a long-term price target of $400,000.
His estimates, based on historical data and market trends, indicate that the peak period for BTC could be around 18 months after the halving. These predictions are further supported by recent developments in Bitcoin ETFs, including the filing of the very first Bitcoin spot ETF in Hong Kongindicating growing institutional interest in BTC.
Featured image from Unsplash, chart from TradingView
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