Bitcoin advocate and JAN3 CEO Samson Mow has reignited his high-voltage forecast regarding the cryptocurrency’s price trajectory. According to Mow, the long-anticipated “Omega Candle,” a term he coined to describe a massive daily price spike, remains firmly on the horizon.
This projection was again restated by an approximate post on a social network page where Mow wrote, The Omega Candle is coming.” In answer to a user who wanted clarification, he ascertained that this fictitious pump would symbolize a $100,000 rise in the price of Bitcoin in a day.
The former Bitcoin maximist is adamant on holding onto his most famously popular prediction, according to which Bitcoin will ultimately cost $1 million per coin. According to the latest interview he had, the milestone is unavoidable despite the timeline being secondary. Mow underlined that the unique feature of Bitcoin is its architecture, which involves a limited supply (21 million tokens only), non-changeable, and decentralized infrastructure.
Increasing Institutional Accumulation Signals Confidence
While retail traders weigh Mow’s prediction, corporate Bitcoin holders continue to expand their holdings. On Monday, Michael Saylor’s firm, Strategy, added 245 BTC, worth approximately $26 million, to its already vast reserves. This purchase raised the firm’s total Bitcoin holdings to 592,345 BTC, valued at nearly $42 billion.
Following the strategy lead, Japanese investment company Metaplanet announced that it had purchased 1,111 BTC. This new acquisition increased its share to 11,111 BTC. The cumulative action of these institutional investors highlights the long-term belief in the strength of Bitcoin despite the ups and downs in the market.
Mow previously stated that Bitcoin would already be trading at $10 million per coin if global understanding of the asset matched its technical reality. He again raised the issue that the most significant obstacle on the road to Bitcoin attaining its theoretical limit is public misperceptions.
One of the reasons why people believe that using Bitcoin might lead to its eventual increase is linked to the fact that halving Bitcoin applies to restrict the creation of a new coin at an increased rate once every four years. This most recent halving occurred in April 2024, reducing miner rewards by half, and the subsequent scheduled halving date is in 2028.
In a different article last weekend, Mow termed Bitcoin as the Alpha and the Omega, meaning the supremacy of all other blockchain projects. He stated that this fixed characteristic and the fact that it is not part of a perceived central control ensure its status as the sole truly decentralized coin of the cryptocurrencies.
Conclusion
Samson Mow’s latest comments have once again spotlighted the ultra-bullish sentiment within the Bitcoin community. With increasing institutional involvement and consistent supply reduction through halvings, the conversation around a possible parabolic move “like the Omega Candle” continues to gain momentum.
