Samson Mow: Buy Bitcoin Now Before Prices Rise – YouTube
In the latest Markets Outlook, JAN3 CEO Samson Mow discusses the current status of bitcoin along with CoinDesk’s Jennifer Sanasie and Andy Baehr. Mow goes on to analyze why the price of bitcoin has remained stagnant and the decreasing trading volumes in the market.
Mow attributes the lack of movement in bitcoin’s price to the fact that the market is in a consolidation phase after experiencing significant growth. He explains that this period of consolidation is necessary for the market to stabilize before potentially seeing another surge in price. Mow emphasizes the importance of patience during these times of lower volatility, as they often precede periods of increased activity.
Mow also points out the decreasing trading volumes in the market, suggesting that investors may be holding onto their bitcoin rather than engaging in frequent buying and selling. He believes that this hesitancy to trade may be a result of uncertainty surrounding the global economy and other external factors that are impacting the cryptocurrency market.
Despite the current flat price of bitcoin, Mow remains optimistic about the future of the cryptocurrency. He highlights the growing interest in bitcoin from institutional investors, which he believes will contribute to the long-term growth and stability of the market. Mow also mentions the development of new technologies and applications in the cryptocurrency space that will likely drive adoption and increase the value of bitcoin in the future.
In conclusion, Mow advises investors to exercise caution and patience during times of low volatility in the bitcoin market. He stresses the importance of understanding the underlying fundamentals of the market and taking a long-term perspective when making investment decisions. Mow believes that despite the current challenges facing bitcoin, the cryptocurrency has a strong foundation and promising future ahead.
