In current weeks, the cryptocurrency market has been dealing with bearish traits, which have market capitalization right down to its lowest degree in over two months.
Although in line with market analysts, Bitcoin (BTC) and different altcoins are nonetheless proving to be resilient regardless of the general market local weather. Nevertheless, it isn’t solely the market traits that also maintain onto a bullish sentiment.
On the Bitcoin 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 near- and long-term future.
When it comes to value, Mow mentioned that something below 30K is “massively undervalued” and sure to make a rebound someday quickly. The final time BTC hit that value level was in April 2023, for the primary time in ten months.
Nonetheless Mow mentioned he’s not bearish in any respect and believes that BTC will hit six figures.
“I am bullish as a result of everybody wants Bitcoin.”
He identified that is changing into extra obvious to the higher world as conventional monetary programs proceed to face turmoil.
“The banking system is failing. The legacy monetary system is failing. Cash shouldn’t be cash anymore and stopped being cash a while in the past, funds might 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.
When it comes to the expertise behind Bitcoin, Mow mentioned, “there’s no extra thrilling time than now.”
“We’re seeing extra folks speaking about new Bitcoin layers, new protocols, ARK – and I believe liquid is getting extra traction once more.”
“I believe individuals are simply now understanding that possibly we must always look into liquid,” he mentioned. “It is a very thrilling time when you’re taking note of the technical a part of Bitcoin, so listen, everybody.”