In latest weeks, the cryptocurrency market has faced bearish trends, driving crypto market capitalization down to its lowest level in over two months.
However, according to some market analysts, Bitcoin (BTC) and different altcoins are nonetheless resilient regardless of the general market local weather. However, it’s not solely the market analysts nonetheless holding onto the bullish sentiment.
On the BTC Prague 2023 convention, Jan3 CEO Samson Mow spoke with Cointelegraph about how he sees the present state of the Bitcoin market and why he’s bullish for the close to and long-term future.
When it comes to worth, Mow stated that something below $30,000 is “massively undervalued” and sure to make a rebound someday quickly. The final time BTC hit that worth level was in April 2023, for the primary time in 10 months.
Nonetheless, Mow stated he’s not bearish in any respect and believes BTC will hit six figures.
“I’m bullish as a result of everybody wants Bitcoin.”
He highlighted that that is turning into extra obvious worldwide as conventional monetary programs proceed to face turmoil.
“The banking system is failing. The legacy monetary system is failing. Cash just isn’t cash anymore and stopped being cash a while in the past, funds will be frozen. Nothing works. Solely Bitcoin works.”
Mow informed Cointelegraph that he expects to see a wave of Bitcoin adoption throughout the subsequent 5 years.
Associated: BTC Prague 2023: ‘Anyone can produce value in the Bitcoin ecosystem’
When it comes to the expertise behind Bitcoin, Mow stated, “there’s no extra thrilling time than now.”
“We’re seeing extra folks speaking about new Bitcoin layers, new protocols, ARK, and I feel liquid is getting extra traction once more.”
“I feel individuals are simply now understanding that possibly we must always look into liquid,” he stated. “It’s a really thrilling time should you’re listening to the technical a part of Bitcoin, so concentrate, everybody.”
Journal: BitCulture: Fine art on Solana, AI music, podcast + book reviews
