Bitcoin (BTC) forecast is rooted in his belief in institutional adoption and global macroeconomic instability driving growth.

Bitcoin maximalists believe that BTC supply-demand conditions currently favor Bitcoin after Mow expressed this view. Numerous analysts believe Bitcoin's path is overwhelmingly bullish

JAN3 CEO Samson Mow has denied recent price drops in the Bitcoin (BTC) market, describing them as a typical “bear trap.”

The crypto maximalist asserts that BTC will eventually earn significant long-term gains despite temporary market changes which induce investor panic.

According to him, the $1 million Bitcoin price target remains valid because increasing institutional adoption and global macroeconomic instability will drive its growth.

Samson Mow Bitcoin Forecast: A Bullish Outlook

This view is shared by many Bitcoin maximalists who believe that BTC supply-demand conditions currently favor the cryptocurrency.

Many analysts also believe that Bitcoin’s path is overwhelmingly bullish following the upcoming halving event and new spot Bitcoin ETFs receiving record-breaking funding.

The “bear trap” explanation suggests that recent price drops are temporary and do not reflect a permanent market alteration.

The current market dip does not deter long-term Bitcoin holders who continue their accumulation pattern as they demonstrate strong conviction in Bitcoin surpassing the six-figure mark.

Some people may be flustered by the BTC price fluctuations, but Mow dismisses these ups and downs as temporary interruptions in the long-term market trajectory.

The investor advises people to prioritize fundamental Bitcoin characteristics including its limited availability together with its decentralized structure and rising institutional engagement.

Mow expresses certainty about Bitcoin’s future success although experts cannot yet predict if Bitcoin will surpass the $1 million mark.

“I think it will. My $1 million Bitcoin price target is a product of my optimism in the long-term potential of Bitcoin, even amidst the temporary market fluctuations we’ve seen recently,” he said.

The Bitcoin (BTC/USDT) data on Binance shows a downtrend shift which stabilized prices before they started recovering. Bitcoin reached storage near $82,000 which triggered a price increase that struggled against resistance at $83,600-$83,800.

Multiple oversold levels noticed in the RSI indicator produced upward movements yet the recent period of overbought states led to a temporary price correction. MACD indicator displays alternating death crosses and golden crosses that indicate changing market momentum patterns.

An upcoming Death Cross points to possible market slowdown yet this indicator will allow BTC to continue its upward trend if support levels remain stable.

Short-term Bitcoin price movements depend on crucial support and resistance levels along the price chart. The price would likely move upward toward $84,000-$84,500 if it crosses past $83,600 and intensify bullish market conditions. BTC may decrease toward either $82,000 or lower prices if it fails to maintain $82,400 support levels.

Market participants currently maintain a careful optimistic approach among traders as they monitor momentum signals to validate their next price movement decision. Bitcoin price prediction remains uncertain, influenced by macroeconomic conditions, market sentiment, and regulatory developments.