Bitcoin's Plunge to $97,000 Labeled a 'Bear Trap' by Samson Mow
Bitcoin's Plunge to $97,000 Labeled a 'Bear Trap' by Samson Mow
Despite Bitcoin's significant three-day plunge to $97,000, triggering $600 million in realized losses and holder capitulation, prominent advocate Samson Mow asserts that the downturn is nothing more than a 'bear trap,' suggesting an impending market reversal.
Bitcoin Experiences Significant Dip, But Bullish Outlook Persists
Bitcoin recently saw a sharp decline, shedding significant value over three days to reach $97,000. This price action led to substantial market activity, including a recorded $600 million spike in realized losses and capitulation among midterm holders. However, Samson Mow, a vocal proponent of Bitcoin and known for his 'Million Dollar BTC' predictions, views this market movement not as a sustained bearish trend but as a strategic 'bear trap.' His perspective implies that the current downturn is a temporary maneuver designed to shake out weaker hands before an upward reversal.