Jan3 CEO: Traders predict BTC will fall to $40,000 without technical fundamental support, market fear is difficult to sustain

Samson Mow, CEO of bitcoin technology firm Jan3, said, “Bitcoin traders predicting a return to the $40,000 level may be motivated more by fear than any technical fundamentals. Fear-driven markets never last long as fundamentals win out over time, and even the revelation of some of the worst frauds like FTX ultimately failed to drive down the price of Bitcoin. Short sellers saying Bitcoin will fall to $40,000 have no basis for this prediction other than self-induced fear,” Samson Mow wrote in a post on September 6. “Bitcoin could easily reach $100,000, supported by $3 billion in debt per day, Bitcoin strategic reserves, pension allocations, and corporate purchases.” According to the Kobeissi Letter, a global market macro review magazine, the U.S. government is spending $3 billion per day on debt interest, three times the amount it paid 10 years ago, and has doubled in just 2.5 years. “Crisis” is an understatement.”