Bitcoin $95,971.3 Samson Mow, one of the leading names in the ecosystem, said that the leading cryptocurrency is on the verge of a new era in price fluctuations. Mow stated that Bitcoin has moved from its traditional fluctuation levels to a phase where much higher movements will occur. “Bitcoin is now entering a period where daily movements of $ 100,000 are normal, rather than movements of $ 10,000,” said Mow, expressing this situation with the term “omega candle”.
Omega Candle and Weak Fiat Currencies
Samson Mow pointed out that these new price movements have already occurred in some countries. He stated that omega candle movements are frequently seen in countries with currencies weaker than the US Dollar. “These large price movements have become commonplace in countries such as Egypt, Türkiye and Argentina,” Mow said.
According to Mow, this points to structural weaknesses of economic systems. The depreciation of fiat currencies causes dramatic movements in the price of Bitcoin. “Omega candles show that fiat currencies are becoming increasingly meaningless,” said Mow, who attributes the debt to increasing rates every day.
Mow also said, “After passing the $100,000 level, the price of Bitcoin will move in much wider ranges. “Volatility will be normal in these new price ranges,” he said.
Disintegration in the Fiat System is Accelerating
Samson Mow stated that the underlying reason for the violent movements of Bitcoin’s price is the collapse of the fiat system. “The fiat money system is losing its meaning. “Omega candles are one of the most obvious evidence of the unraveling of this system,” he said. According to Mow, the fragile economic structures of countries directly affect the movements in Bitcoin price.
The effects of this collapse are compounded by high debt levels. “Expressing daily movements in fiat currencies is becoming meaningless,” Mow said. The increasing adoption of Bitcoin is causing these fluctuations to attract more attention. Saying that investors should follow market dynamics closely, Mow reminded that periods of high volatility also bring financial risks.
Bitcoin is trading at $96,126 at the time of writing. The leading cryptocurrency is defining the shape of a new era in the market with increasing price movements. It becomes important for investors to correctly interpret these movements and determine appropriate strategies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
