In a recent tweet, Samson Mow, CEO at JAN3 BTC adoption-focused company, compared himself to Michael Burry from “The Big Short” movie, expressing his belief in a Bitcoin Omega candle about to hit the market. Mow is confident in his long position on Bitcoin, anticipating a significant price surge.
Mow advises fellow Bitcoin believers to stay focused and patient, emphasizing the importance of sticking to their core thesis.
Market Impact: $1 Trillion Wiped from U.S. Stocks
On August 4th, a massive sell-off in the U.S. stock market resulted in a staggering $1 trillion loss. This shake-up also affected the cryptocurrency market, causing Bitcoin to drop by 5.37%. However, a recent green candle on the hourly chart helped Bitcoin briefly recover to $58,000 before settling at $56,832.
Financial commentator Jim Cramer attributed the sell-off to concerns surrounding AI technology, data centers, and computing, as well as stocks related to housing, oil, and infrastructure. Nvidia, a major chip producer for cryptocurrency mining and AI training, faced scrutiny from the U.S. Department of Justice.
Overall, Samson Mow’s bullish stance on Bitcoin and the recent market volatility highlight the importance of staying informed and patient in the ever-changing financial landscape.