Bitcoin Maximalist Samson Mow Identifies Godzilla Candle Scenario For BTC – What This Means



Popular
Bitcoin
supporter
Samson
Mow
has
revealed
what
might
be
the
next
trigger
for
the
price
of
Bitcoin
as
the
cryptocurrency
continues
to
trade
just
below
its
all-time
high.
The
Bitcoin
Maximalist
and
recently
identified
a
‘Godzilla
candle’
potentially
forming
on
Bitcoin’s
price
charts,
which
undoubtedly
would
send
the
cryptocurrency


surging
to
new
highs
.
His


catalyst


for
the
bullish
projection,
surprisingly,
is
GameStop
adding
Bitcoin
to
its
treasury.


Bullish
Case
For
Bitcoin


Bitcoin


is
no
stranger
to
price
surges
stemming
from
institutional
adoption
from
big
traditional
companies.
With
Bitcoin
adoption
increasing
and
more
mainstream
interest
in
crypto,
several
factors
could
drive
the
price
of
BTC
sky-high
and
lead
to
that
“Godzilla
candle”
rally. 

How To Get Free Crypto  


According
to
Mow,
adoption
by
retail
gaming
retailer
GameStop
is
the
next
on
the
list
of
these
factors.
GameStop
is
also
not
a
stranger
to
interesting
market
movement.
A
short-squeeze
in
January
2021
saw
the
company’s
shares
surging
over
30
times
at
the
end
of
the
month. 


Big
players


like


MicroStrategy
,
Tesla,
and
Square
have
already
put
Bitcoin
on
their
balance
sheets.
GameStop
is
already
part
of
an
extensive
list
of
companies
accepting
payments
in
Bitcoin.
However,
Mow
believes
that
a
better
effect
would
be
felt
if
GameStop
were
to
announce
they’re
adding
Bitcoin
to
their
corporate
treasury.
As
a
popular
stock
among
younger
investors,
GameStop
has
the
potential
to
introduce
cryptocurrency
to
a
huge
new
audience
which
could
send
Bitcoin
prices
surging.

BTCUSD trading at $69,372 on the weekly chart: TradingView.com


According
to
his
tweet
on
social
media
platform
X,
Mow
believes
the
bullish
projection
goes
both
ways
if
GameStop
were
to
invest
in
Bitcoin.
“Both
$GME
and
$BTC
will
see
Godzilla
candles
immediately,”
Mow
said.
This
was
probably
made
in
reference
to
the
recent
decline
in
GameStop
shares
after
the
company’s


financial
reports


revealed
a
$32.3
million
loss
in
the
first
quarter
of
2024.
This
revelation
saw
the
company’s
share
price
falling
over
39%
on
Friday.

Coinbase Banner  


What’s
Next
For
Bitcoin?


At
the
time
of
writing,
Bitcoin
is
trading
at
$69,310
after
spending
a
majority
of
last
week


trading
a
little
above


$70,000.
This
comes
off
of
a
change
into
bullish
investor
sentiment,
with
on-chain
data


revealing


over
$1.57
billion
worth
of
BTC
withdrawn
from
crypto
exchanges
during
the
week.


GameStop’s
bullish
Bitcoin
thesis
was
also


recently
reiterated


by
financier
Anthony
Scaramucci
on
social
media
platform
X.
Overall,
while
a
Godzilla
candle
would
likely
lead
to
short
term
volatility,
it
paves
the
way
for
Bitcoin
to
reach
a
new
plateau
of
stability
at
a
higher
price
level
above
its
current
all-time
high. 


Featured
image
from
IGN,
chart
from
TradingView

Go to Source
Author: Scott Matherson


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