As the world’s leading digital asset, Bitcoin has recently experienced a significant price crash, leaving many investors disappointed. However, according to Samson Mow, a prominent Bitcoin bull and CEO of JAN3, there is a bullish setup on the horizon that could lead to a massive surge in Bitcoin’s value.
Institutional Interest in Bitcoin on the Rise
Mow revealed that there is a growing rush among traditional institutions, including central banks, pension funds, public companies, and mining companies, to get exposure to Bitcoin. This increased interest from institutional investors is seen as a positive sign for the future of Bitcoin.
At the time of writing, Bitcoin’s price is at $58,012.67, with a slight drop of 2.66% in the past 24 hours. However, the market volume has increased by 16.47%, indicating growing interest in the digital asset.
Market Correction on the Horizon?
Mow believes that the current low performance of Bitcoin is due to mispricing and that the increased institutional interest will eventually lead to a correction in the market. He predicts that the soaring demand for Bitcoin will help the price reflect its true value in the near future.
While experts have noted a momentary surge in Bitcoin’s price to $69,404, the highest level since June 12, there is optimism that this bullish sentiment could continue in the coming days.
Overall, the future looks promising for Bitcoin as institutional interest continues to grow, potentially leading to a significant price surge in the near future. Investors are advised to stay tuned for further developments in the market to capitalize on this bullish setup.