Bitcoin Close to Regaining $63,000
Over the weekend, the world’s flagship cryptocurrency, Bitcoin, has printed an impressive rise of almost 7.5%, soaring from the $58,580 area to the $62,900 zone, where BTC is changing hands at the time of writing this material. The fuel for this abrupt price increase was likely provided by a number of factors, including the better-than-expected CPI report and the end of the recent Bitcoin sale imposed on the market by the German government. Besides, certain events in the US to do with the upcoming November government reshuffling took place over the weekend, unexpectedly adding fuel to the Bitcoin rally. The whole cryptocurrency market followed BTC, allowing altcoins to go back into the green zone with large price increases.
Say Goodbye to Bitcoin Under $60,000 Forever
On Saturday, Bitcoin maximalist Samson Mow tweeted that he does not expect Bitcoin to plunge below the $60,000 level (or $0.06 million as he preferred to put it) ever again. Today, he doubled down on his prediction. Mow’s ultra-bullish Bitcoin forecast is based on the fact that in April this year, the fourth BTC halving took place, slashing the block reward from 6.25 to 3.135 BTC, and the immense Bitcoin purchasing campaign initiated by spot Bitcoin ETFs that has been going on since January when the SEC granted them the green light for trading.
Bitcoin to $1 Million?
Ultimately, Samson Mow believes Bitcoin will be able to reach a whopping $1 million price threshold and surpass it. In the tweets published earlier this year, Mow shared his expectations to see Bitcoin soaring to $1 million if not next year, then very soon anyway. On Saturday, Mow tweeted that in October, he, in collaboration with German MP from Bundestag Joana Cotar and Twitter handle @BTCimBundestag, intends to present a plan for Germany to acquire back at least the 50,000 BTC the German government has sold as part of a proper nation-state Bitcoin adoption strategy.
