Earlier today, Mow revisited his post published on Monday evening, adding a super bullish Bitcoin price prediction to it.
There are no digits on this diagram, but it makes its point visually that the amount of available BTC is tiny compared to how much available capital can be used for buying it. Both the capital and Bitcoin are depicted in the shapes of triangle, and together they look like an hourglass.
Mow tweeted earlier today that while “watching the Bitcoin price dropping, just remember where it inevitably goes,” thus making a bullish BTC price prediction. Mow is one of the maximalists who expects the world’s flagship cryptocurrency to eventually reach the $1 million-per-coin price level.
However, Mow also shared surprise at the current Bitcoin decline despite the staggering level of adoption that can be observed now: “Feels weird seeing #Bitcoin price go down when we’re at a level of unprecedented adoption. BTFD!” BTFD, as he explained in the comments to that tweet, stands for “buy the friendly dip.”
Mow responded that it is worth taking a closer look at the bigger triangle of capital, and then it will become obvious that ” ‘Available Capital’ goes outside the boundaries of the diagram.”
Over the weekend, BTC faced a similar price decline, dropping from above $71,660 to the $69,000 price tag.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
