The post Samson Mow Predicts Bitcoin’s Journey to $1 Million with the “Omega Candle” appeared first on Coinpedia Fintech News
Bitcoin is once again drawing attention as it flirts with the $100,000 mark. Amid the excitement, Samson Mow, CEO of JAN3 and a well-known Bitcoin advocate, has made a bold prediction involving what he calls the “Omega Candle.” According to Mow, this remarkable market movement could propel Bitcoin’s price to an incredible $1 million.
What is the Omega Candle?
Samson Mow describes the Omega Candle as a monumental surge in Bitcoin’s price, characterized by an overwhelming wave of demand that wipes out resistance levels. Unlike typical rallies, this candle would stand out as a massive green spike on 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 event will happen once Bitcoin breaks past $100,000, setting the stage for an unparalleled leap in value.
MicroStrategy’s Role in the Omega Candle
Mow sees MicroStrategy, a company led by Bitcoin advocate Michael Saylor, as the key player in this big move. He explained that the trigger could be something called a “gamma squeeze.”
The gamma squeeze on $MSTR is what causes the first Omega Candle.
— Samson Mow (@Excellion) December 7, 2024
A gamma squeeze happens when traders buy a lot of call options, betting that a stock’s price will go up. To cover their risks, market makers buy the stock itself, which then pushes the price even higher. Mow thinks this could happen with MicroStrategy’s stock (MSTR), as the company continues to buy large amounts of Bitcoin.
If MicroStrategy’s stock price rises quickly, it could also bring a lot of attention to Bitcoin, causing its price to soar as well.
Why Breaking $100K Matters
Reaching $100,000 is not just a price milestone. It’s a psychological level that could inspire more investors to enter the market. Analysts suggest that once this happens, Bitcoin’s next target could be $114,000 or even higher, paving the way for Mow’s ambitious Omega Candle prediction.