Bitcoin Close to Regaining $63,000
Bitcoin, the world’s leading cryptocurrency, has seen a significant rise of nearly 7.5% over the weekend, climbing from around $58,580 to $62,900. The surge in price was likely fueled by several factors, including a positive CPI report and the end of a recent Bitcoin sell-off by the German government. Additionally, events in the US related to the upcoming government changes in November added momentum to the Bitcoin rally, leading to a positive trend in the entire cryptocurrency market with altcoins also experiencing substantial price gains.
Say Goodbye to Bitcoin Under $60,000 Forever
Bitcoin advocate Samson Mow predicted that Bitcoin will not drop below $60,000 again, emphasizing his bullish outlook on the cryptocurrency. Mow’s optimism is based on the Bitcoin halving in April, which reduced the block reward, as well as the ongoing purchasing campaign by spot Bitcoin ETFs following SEC approval for trading earlier this year.
Bitcoin to $1 Million?
Mow further expressed his belief that Bitcoin could surpass the $1 million price mark in the future. He has shared his expectations of Bitcoin reaching this milestone either next year or in the near future. Mow also mentioned plans to collaborate with a German MP to propose a strategy for Germany to regain the 50,000 BTC previously sold by the government as part of a national Bitcoin adoption initiative.