Bitcoin is grabbing attention as it edges closer to the $100,000 mark again, a key milestone that has traders buzzing. Amid the excitement, Samson Mow, CEO of JAN3 and a prominent Bitcoin advocate, has introduced a bold prediction: the arrival of the “Omega Candle.”
According to Mow, this extraordinary market event could send Bitcoin’s value soaring to an eye-popping $1 million.
Samson Mow describes the Omega Candle as more than a standard price rally. He envisions it as a massive surge in demand that obliterates resistance levels, creating a towering green spike on Bitcoin price charts.
“The Omega Candle isn’t just a rally,” Mow explained. “It’s a tidal wave that will redefine Bitcoin’s value, taking it into six-figure territory and beyond.”
Mow believes this surge will begin once Bitcoin surpasses $100,000, triggering a chain reaction that could lead to an unprecedented price leap.
Mow points to MicroStrategy, led by Bitcoin advocate Michael Saylor, as a critical factor in this potential price explosion. He highlights the possibility of a “gamma squeeze” as the mechanism that could ignite the Omega Candle.
A gamma squeeze occurs when traders buy large amounts of call options, betting on a price increase. To manage risk, market makers purchase the underlying asset, which further drives up its price. Mow suggests this could happen with MicroStrategy’s stock (MSTR), as the company continues its aggressive Bitcoin acquisitions.
If MicroStrategy’s stock price rises sharply, it could draw significant attention to Bitcoin, sparking a surge in demand and potentially sending Bitcoin’s price skyrocketing.
The BTC price may range between $95,500 and $102,000 for today.
If the bullish sentiment sustains, the star crypto may continue gaining value tomorrow.
As per Coinpedia’s BTC price prediction, 1 BTC could peak at $169,046.
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