Bitcoin is trying to maintain its current level. An uncertain outlook prevails throughout the cryptocurrency market. However, long-term positive forecasts for BTC continue to come. Finally, Samson Mow revealed his expectation of 1 million dollars. Mow, one of the well-known names in the crypto money market, said in an interview with Cointelegraph that he expects Bitcoin to reach $ 1 million in 5 to 10 years. According to Jan3 CEO, the main factor in this rise will be fiat currencies. According to Mow, the collapse of fiat currencies over time will be the catalyst for Bitcoin. With this factor, BTC will increase its price rapidly over the years.
Samson Mow is working towards countries’ adoption of cryptocurrencies. It is known that Mow had a significant impact on the decision of El Salvador, which was the first country to accept Bitcoin as a legal currency. For this reason, Mow made remarkable statements about El Salvador in the interview. The famous name stated that despite all the criticism, the country’s Bitcoin adventure is progressing well. Despite the relatively low usage, he said the move has progressed successfully.
“You are basically recreating the traditional banking infrastructure in the country. Therefore, it will take some time and lead to uneven distribution. Many companies continue their work here.“
Mow continues to work on Bitcoin adaptation of other countries besides El Salvador. In the past months, it was claimed that Samson Mow was holding talks on Mexico’s BTC acceptance. At that time, Mexican Senator Indira Kempis announced that she was working on a bill to legalize Bitcoin. However, there was no official development for the leading cryptocurrency in the country.
Recently, other well-known names in the crypto money market, such as Samson Mow, also announced their bullish expectations. Finally, former BitMEX CEO Arthur Hayes made statements stating that the bottom has come for BTC. Hayes also stated that he believes that BTC will rise with the year 2023. However, he said that the main factor in this rise would be the FED:
“At some point in 2023, with the tightening of the Fed, the US treasury market will become dysfunctional. At that point, the Fed will start printing money. With the money printed, Bitcoin and other risky assets will rise.”