He believes that Bitcoiners are “about to win,” naming an important factor to do with the social sentiment regarding the flagship cryptocurrency.
Anyway, the conclusion he came to was bullish, and it goes like this: “Feels like we’re about to win.”
As Bitcoin seems to have resumed ascending and recently recovered the $44,000 high, making it the highest peak this year so far, Mow began posting more comments on Bitcoin, its price action and market behavior than before. By now, BTC has suddenly dropped below $41,000.
On Saturday, the influencer ironically tweeted that he is “bored” with Bitcoin hanging at $44,000, adding that he does not mind now since “s-coins” have been growing a lot, together with Bitcoin and “they need to cool off.”
Among the reasons for such a massive Bitcoin price uptick, Mow named the demand shock meeting supply shock for BTC since institutional investors are trying to purchase all the BTC within their reach, and there is less and less BTC left on the market. Long-term holders will not sell their Bitcoin, and the upcoming halving event will cut the production of new BTC in half — slightly over 3 BTC compared to 6.25 BTC, which have been made since May 2020 when the previous halving took place.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
