Early Bitcoin Investor Samson Mow published an X post in which he explained when he expects “Omega time” to come for the BTC price. Mow also made an interesting statement about the upcoming halving.
Bitcoin maximalist Samson MowHe had expressed his views on the decline over the weekend, when fears about some negative developments in the Middle East sent the BTC price down more than 13% to the $63,240 region.
As Koinfinans.com reported, Bitcoin has managed to reduce its losses since then and regained almost 9%, rising to $66,635. However, with another price drop, it fell back into the red, losing close to 5%.
Mow tweeted that TradeFi markets had their share of panic today, but that he believed this was all nothing but an overreaction and “will be over soon.” When that happens, “then it will be Omega time” for Bitcoin, he added.
The Jan3 boss also emphasized the importance of the upcoming BTC halving. Mow called this “the spark of a major supply shock.” pulled.
You know what the halving means though. You know it’s the spark of a massive supply shock. You’re tracking ETF inflows and demand. You’re aware of the HK ETFs coming.
NEWS CONTINUES BELOWYou’re the lion accumulating #Bitcoin amidst a herd of sheep.
— Samson Mow (@Excellion) April 16, 2024
Mow reminded the cryptocurrency community that the Bitcoin demand shock is being created now because spot BTC ETFs have been buying massive amounts of BTC since mid-January, when the SEC approved them to begin trading.
On the other hand, ETFs approved in Hong Kong will also contribute to this.
