News - Bitcoin influencer: BTC rises to one million US dollars

By Ted Maas

Bitcoin influencer: BTC rises to one million US dollars

Bitcoin (BTC)
Price update

Few people are as optimistic about Bitcoin's future as Samson Mow. The influencer promises BTC prices of one million US dollars "this year or next year."

You know it's a bull market when crypto influencers promise you prices up to a million US dollars. Samson Mow, a busy Bitcoin entrepreneur and architect of El Salvador's Bitcoin bonds, predicts a BTC price of a million US dollars in 2024 or 2025.

In the podcast with Peter McCormack, the bitcoiner says: "If not this year, then next year. But it will be very soon." The current dip does not impress the bitcoiner either. He expects US$100,000 before the halving. Or, to put it in his own words:

"You know we're still going to $0.1 million before the halving?"

For us, absurd price predictions like a million US dollars per BTC within a year are mainly one thing: a clear sign that the market is overheated. Caution should be exercised with predictions like Samson Mow's. Remember: in 2021, it was almost a foregone conclusion that BTC would reach USD 100,000 - until the price found its temporary cycle stop at USD 69,000.

Assuming Mow was right, Bitcoin should rise 1,415 percent by the end of 2024 at the latest. On average, that would be 72 percent per month - an overly hyperbolic idea.

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