Jan3 CEO Samson Mow commented on the reason for Bitcoin’s recent crash, stating that the market was simply adjusting.
Well-known Bitcoin supporter Samson Mow is bullish on the cryptocurrency. He believes it will soon reach $1 million in value. Meanwhile, Pullix, a completely new DeFi project, has been causing a stir in the cryptocurrency world. With its pre-sale sold out, the upcoming hybrid exchange platform has attracted a lot of attention.
Bitcoin (BTC) Will Reach $1 Million When Demand Outstrips Supply
Samson Mow, CEO of Jan3 and Bitcoiner, noted in an X post that Bitcoin (BTC) will reach $1 million in “days or weeks.” He went on to say that the starting point of this rapid rise has not yet been determined.
The analyst’s bullish forecast for Bitcoin stems from his belief in maximum pain theory, a term that describes a Bitcoin price at which most options traders would experience their biggest loss. Mow claims that since the Bitcoin spot ETFs were approved, the bulls have incurred this loss and the bears could experience some pain soon.
Regarding the Bitcoin market, Mow noted that we may soon be in a situation where supply exceeds demand. Additionally, he mentioned the impending Bitcoin halving, speculating that it would serve as a catalyst for a sharp rise in the cryptocurrency’s value.
Mow was confident in Bitcoin’s upward direction and had previously projected that it would reach a new peak before the Halving. Currently, Bitcoin price is hovering between $41,753.68/$48,494.62 after an 8.5% price drop last week.
Pullix (PLX) Presale Sells Out Quickly
Pullix (PLX) is one of the top DeFi projects that has surprised the crypto space lately. The project skyrocketed 100% from $0.04 to a current price of $0.08 in less than a month. Top analysts have analyzed the project and believe that it has the potential to join the top 10 altcoins.
Pullix is an upcoming trading platform that will connect decentralized and centralized exchanges. It seeks to offer the best of both worlds. Pullix will offer a comprehensive and easy-to-use solution for all sectors.
In addition to existing features, Pullix will introduce Yield Farming. This would allow users to earn Pullix’s PLX by staking the DeFi token. Every transaction on the Pullix Swap exchange comes with a modest 0.25% fee. This fee is collected and converted into LP tokens that are added to the Pullix pool. The collected LP tokens are later redeemed for PLX. This PLX is then distributed evenly among all Pullix LP holders in the group. Through capital gains, this procedure not only increases the value of your holdings but also ensures a steady stream of passive income.
Pullix is now valued at $0.08 and is in the sixth stage of its pre-sale. It could join the top 10 altcoins months after its inception and perhaps cross the $1 mark.
Concluding Remarks
All in all, with a maximum price of less than $70,000 and not even up to $100,000, the chances of Bitcoin reaching $1 million seem very unlikely in the coming weeks. Furthermore, Bitcoin’s market capitalization must reach trillions or more.
Meanwhile, it seems possible that the Pullix DeFi token will rise by 1,150% to $1. The token’s low market cap, coupled with its innovative features, gives PLX the potential for a massive surge in 2024.
By Leonardo Perez
