{"id":604716,"date":"2024-04-23T23:00:24","date_gmt":"2024-04-23T23:00:24","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=604716"},"modified":"2024-06-11T07:33:41","modified_gmt":"2024-06-11T07:33:41","slug":"samson-mow-on-bitcoin-halving-brace-for-supply-shock-omega-candle-in-sight","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/samson-mow-on-bitcoin-halving-brace-for-supply-shock-omega-candle-in-sight\/","title":{"rendered":"Samson Mow On Bitcoin Halving: Brace For Supply Shock, Omega Candle In Sight"},"content":{"rendered":"

Samson Mow, the chief executive at Jan3, recently spoke<\/a> to Forbes about the latest Bitcoin halving and its potential to catalyze what he refers to as the “Omega candles” – significant price movements that could elevate Bitcoin to the $1 million mark.<\/p>\n

According to Mow, halvings ensure a controlled distribution of Bitcoin, maintaining scarcity and value.<\/p>\n

Related Reading: Standard Chartered Reaffirms $150,000 Bitcoin Price Target By Year-End<\/a><\/div>\n

The Mechanics Of Halving And Its Market Implications<\/h2>\n

Samson Mow detailed in the interview with Forbes the mechanics behind Bitcoin halvings\u2014a critical process built into Bitcoin’s framework by its creator, Satoshi Nakamoto.<\/p>\n

\n

Omega Candle in sight! Omega Candle in sight! The #halving<\/a> is proof that this system works, but it also means a supply shock is coming for any parties looking to buy large amounts of #Bitcoin<\/a>. Check out @Excellion<\/a>‘s comments on the recent halving in this @Forbes<\/a> article by\u2026 pic.twitter.com\/xp23ulxQIJ<\/a><\/p>\n

\u2014 JAN3 (@JAN3com) April 22, 2024<\/a><\/p><\/blockquote>\n

This mechanism is designed to halve the block rewards given to miners every 210,000 blocks, or approximately every four years, reducing the reward by 50%.<\/p>\n

So far, the most recent halving has reduced the reward for mining from 6.25 BTC to 3.125 BTC per mined block. However, initially, miners received 50 BTC per block.<\/p>\n

Still, due to the halvings, this amount has decreased over time to manage inflation and extend the mining lifecycle<\/a> of Bitcoin’s capped supply of 21 million coins. If not for these halvings, the total supply of Bitcoin would have already been mined.<\/p>\n

In the same discussion, Mow highlighted the significant impact of newly approved spot-based Bitcoin ETFs, which received SEC approval earlier this year. He believes these ETFs, combined with the reduced block rewards from the halving, could precipitate a “supply shock” in the BTC market.<\/p>\n

Mow further speculated on the occurrence of what he calls “Omega candles”\u2014large price movement events in the Bitcoin market.<\/p>\n

He noted that even before the recent halving, the daily demand for Bitcoin was significantly outstripping supply, predicting these Omega candles as almost certain events<\/a> due to their high volatility and substantial price changes.<\/p>\n

Mow views these developments as marking the beginning of a new era for Bitcoin, coinciding with its next, or fifth, halving in the coming four years.<\/p>\n

Bitcoin Bright Future And Market Performance<\/span><\/h2>\n

Regarding positive sentiment on Bitcoin, Geoff Kendrick of Standard Chartered also supports this bullish outlook<\/a>, projecting substantial inflows into BTC akin to those experienced by gold with the advent of gold ETFs.<\/p>\n

Kendrick suggests that the maturation of the spot ETF market could channel between $50 and $100 billion into BTC.<\/p>\n

However, despite the post-halving price not reaching the anticipated heights, BTC has demonstrated resilience and potential for considerable growth. Meanwhile, analysts remain confident, predicting significant long-term value increases.<\/p>\n

For instance, Michael Sullivan\u2019s analysis suggests a possible reach of $245,000 by 2029<\/a> if BTC maintains a 30% compound annual growth rate, underlining the optimistic projections shared by several market experts.<\/p>\n

Related Reading: Bitcoin Price Extends Increase, Why Dips Turned Attractive In Short-Term<\/a><\/div>\n

This optimism is further supported by recent trends, including a 7.1% increase in Bitcoin\u2019s price over the last week, which indicates\u00a0a possible recovery on the horizon.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Samson Mow, the chief executive at Jan3, recently spoke to Forbes about the latest Bitcoin halving and its potential to catalyze what he refers to as the “Omega candles” – significant price movements that could elevate Bitcoin to the $1 million mark. According to Mow, halvings ensure a controlled distribution of Bitcoin, maintaining scarcity and value. Related Reading: Standard Chartered Reaffirms $150,000 Bitcoin Price Target By Year-End The Mechanics Of Halving And Its Market Implications Samson Mow detailed in the interview with Forbes the mechanics behind Bitcoin halvings\u2014a critical process built into Bitcoin’s framework by its creator, Satoshi Nakamoto. Omega Candle in sight! Omega Candle in sight! The #halving is proof that this system works, but it also means a supply shock is coming for any parties looking to buy large amounts of #Bitcoin. Check out @Excellion‘s comments on the recent halving in this @Forbes article by\u2026 pic.twitter.com\/xp23ulxQIJ \u2014 JAN3 (@JAN3com) April 22, 2024 This mechanism is designed to halve the block rewards given to miners every 210,000 blocks, or approximately every four years, reducing the reward by 50%. So far, the most recent halving has reduced the reward for mining from 6.25 BTC to 3.125 BTC per mined block. However, initially, miners received 50 BTC per block. Still, due to the halvings, this amount has decreased over time to manage inflation and extend the mining lifecycle of Bitcoin’s capped supply of 21 million coins. If not for these halvings, the total supply of Bitcoin would have already been mined. In the same discussion, Mow highlighted the significant impact of newly approved spot-based Bitcoin ETFs, which received SEC approval earlier this year. He believes these ETFs, combined with the reduced block rewards from the halving, could precipitate a “supply shock” in the BTC market. Mow further speculated on the occurrence of what he calls “Omega candles”\u2014large price movement events in the Bitcoin market. He noted that even before the recent halving, the daily demand for Bitcoin was significantly outstripping supply, predicting these Omega candles as almost certain events due to their high volatility and substantial price changes. Mow views these developments as marking the beginning of a new era for Bitcoin, coinciding with its next, or fifth, halving in the coming four years. Bitcoin Bright Future And Market Performance Regarding positive sentiment on Bitcoin, Geoff Kendrick of Standard Chartered also supports this bullish outlook, projecting substantial inflows into BTC akin to those experienced by gold with the advent of gold ETFs. Kendrick suggests that the maturation of the spot ETF market could channel between $50 and $100 billion into BTC. However, despite the post-halving price not reaching the anticipated heights, BTC has demonstrated resilience and potential for considerable growth. Meanwhile, analysts remain confident, predicting significant long-term value increases. For instance, Michael Sullivan\u2019s analysis suggests a possible reach of $245,000 by 2029 if BTC maintains a 30% compound annual growth rate, underlining the optimistic projections shared by several market experts. Related Reading: Bitcoin Price Extends Increase, Why Dips Turned Attractive In Short-Term This optimism is further supported by recent trends, including a 7.1% increase in Bitcoin\u2019s price over the last week, which indicates\u00a0a possible recovery on the horizon. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":538164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,92147,678,1119,78790,1155,6664,87925,91322],"class_list":["post-604716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-omega-candle","tag-bitcoin-prediction","tag-btc","tag-btcusdt","tag-bullish","tag-crypto","tag-crypto-asset","tag-jan3"],"acf":[],"yoast_head":"\nSamson Mow On Bitcoin Halving: Brace For Supply Shock, Omega Candle In Sight<\/title>\n<meta name=\"description\" content=\"Samson Mow, the chief executive at Jan3, recently spoke to Forbes about the latest Bitcoin halving and its potential to catalyze what he...\" \/>\n<meta name=\"robots\" content=\"index, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/shenyangcang.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Samson Mow On Bitcoin Halving: Brace For Supply Shock, Omega Candle In Sight","url":"http:\/\/shenyangcang.com\/news\/samson-mow-on-bitcoin-halving-brace-for-supply-shock-omega-candle-in-sight\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/samson-mow-on-bitcoin-halving-brace-for-supply-shock-omega-candle-in-sight\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin omega candle","bitcoin prediction","btc","btcusdt","bullish","crypto","crypto asset","jan3"],"dateCreated":"2024-04-23T23:00:24Z","datePublished":"2024-04-23T23:00:24Z","dateModified":"2024-06-11T07:33:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Samson Mow On Bitcoin Halving: Brace For Supply Shock, Omega Candle In Sight\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/samson-mow-on-bitcoin-halving-brace-for-supply-shock-omega-candle-in-sight\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/samson-mow-on-bitcoin-halving-brace-for-supply-shock-omega-candle-in-sight\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin omega candle\",\"bitcoin prediction\",\"btc\",\"btcusdt\",\"bullish\",\"crypto\",\"crypto asset\",\"jan3\"],\"dateCreated\":\"2024-04-23T23:00:24Z\",\"datePublished\":\"2024-04-23T23:00:24Z\",\"dateModified\":\"2024-06-11T07:33:41Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/604716"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=604716"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/604716\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/538164"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=604716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=604716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=604716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}