Bitcoin Unlikely to Plummet to $40,000 Despite ‘Self-Induced Fear’

Samson Mow, CEO of Bitcoin technology firm Jan3, has dismissed concerns from some traders predicting that Bitcoin will fall to $40,000, attributing these predictions to fear rather than solid market fundamentals. In a recent post on X, Mow argued against the bearish outlook stating, “Bears saying Bitcoin will drop to $0.04M have no basis for that prediction other than self induced fear.” Despite Bitcoin’s recent struggles, remaining under $60,000 for the past week and currently trading at $53,824 according to CoinMarketCap, Mow remains optimistic about its potential to surge to $100,000. He cites several macroeconomic factors supporting a bullish scenario