Bitcoin‘s (BTC) price took a hit and was trading at $59297 at the time of writing; this is 4.65% below the price in the last 24 hours.
Samson Mow, the CEO of JAN3 and a well-known Bitcoin advocate, anticipates a very bullish trend in the digital currency. According to Mow, increasing attention from institutional investors is a key factor contributing to the price increase. He also highlights the interest shown by central banks and large pension funds in cryptocurrency.
Samson Mow Anticipates Bullish Trend in Bitcoin Market
Samson Mow also points to the increasing demand from institutional investors, which he sees as a positive sign for the Bitcoin market. He adds that public companies have also been increasing their Bitcoin purchases, further strengthening the asset.
In addition to financial institutions, companies engaged in Bitcoin mining are also increasing their efforts to acquire more virtual currency. According to Samson Mow, this diverse industry interest bodes well for a substantial increase in Bitcoin's value. Mow describes this scenario as classically ‘bullish,’ advising investors to prepare themselves.
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