Is Bitcoin’s Omega Candle Near? Samson Mow Thinks So!

Blockchain’s expert Samson Mow’s Big Long on Bitcoin

Samson Mow, the CEO of JAN3 and a well-known Bitcoin maximalist, recently decided to declare himself as the “Michael Burry of Bitcoin”, going long on Bitcoin expecting that an Omega candle will be burning soon and the Bitcoin price will go through the roof. His belief in the growth of Bitcoin seems to resemble Burry’s self-belief prior to the crash of 2008 financial crisis.

The confidence that Mow has in the future Bitcoin Omega candle is anything besides guesswork. In his three month forecast, he believes that although the market is moving slow, Bitcoin is ready for a huge spurt. The candle on the chart that represents the increase in the value of Bitcoin is what Mow calls the Omega candle and he warns the believers of Bitcoin that the increase is around the corner.

Mow compares him self to Michael Burry

In the recent tweet, Mow compared his current status to that of Michael Burry before the 2008 housing bubble burst. While Burry earned immense profits from the successful bet against the housing bubble, Mow visualizes himself in the same nostalgic position with Bitcoin. He is convinced that soon the cryptocurrency’s price will skyrocket in the same manner as the events described in the movie “The Big Short. ”

Mow’s advice for Bitcoin enthusiasts is simple: “All you need to do is to stay focused when your core thesis is correct”: This can be held in parallel with Burry in the sense that even when the market is a contrarian to his view, he just has to wait. For Mow, just like Burry the Bitcoin Omega candle will confirm his belief in the cryptocurrency.

Consequence of the Sale off Stocks in the U. S Market

As the stock market dropped in the U.S, in August, the one-trillion-dollar shrinkage impacted the cryptocurrency market too. This massive sell off affected Bitcoin in a very big way and made traders become worried due to the drastic downturn of Bitcoin. Like many of the other assets that are linked to the AI technology, data centers, related infrastructure, Bitcoin was not spared either going down by 5.37% in value.

Nevertheless, Mow is very confident about Omega candle and he fully believes in its capability. This he says is only a blip that does not do much to hinder the progress of Bitcoin in the long term. Equally, Jim Cramer suggested it on his X account pointing out that the selling pressure was focused in some sectors, and therefore the space for the recovery of Bitcoin or even its surge exists.

Slow but a promising recovery

It only took some moments for the price of Bitcoin to rise after the shake up in the U.S stock market. However, the cryptocurrency was able to get back to $58,000 with the appearance of a big green candle on the hourly chart as you can see below, but it was only for a while. However, Samson Mow’s positive outlook on the Omega candle does not waver since he is hopeful that the Bitcoin market is only going to come back even stronger.

In his mind, Bitcoin’s future resembles Burry’s experience during the 2008 crisis: they are slow to react, but when they do, the advances that follow will be immense. For those who still have faith in bitcoins the major secret is to wait and be patient.

What Mow is seeing for Bitcoin in the Long Term

As you might already know, Samson Mow has been an ardent supporter of Bitcoin for a long time, and recently he only repeated it. It is more than metaphoric assertion when he states that he is Michael Burry, that he believes in the outcome for certain. He strongly holds the view that no matter the current therefore the Omega candle is expected to open the current market for considerable Bitcoin growth.

Mow’s message to Bitcoin investors is clear: It is important to remain on task and be persistent. Similarly, how Burry hit the jackpot with his “big short”, Mow has no doubt that his “big long” on Bitcoin will generate even greater gains as soon as the Omega arrives.

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