Bitcoin Halving to Create Massive BTC Supply Shock: Samson Mow

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Since then and until Monday, Bitcoin was able to pare its losses, recapturing almost 9% and rising to the $66,635 level. However, another price blow followed, taking BTC 5% down to $63,280 where it is changing hands at the time of this writing. This was the only asset that crashed, Mow pointed out, since only it is only cryptocurrencies that trade over the weekend.

TradeFi markets have also had their share of panic today, Mow tweeted, but he believes all of this is nothing but overreaction and “will wash over soon.” Once it happens, he added, “then it will be Omega time” for Bitcoin.You know what the halving means though. You know it’s the spark of a massive supply shock. You’re tracking ETF inflows and demand. You’re aware of the HK ETFs coming.

He also made a mention of the Bitcoin-Ethereum exchange-traded funds approved in Hong Kong earlier this week. As for the markets, Mow believes that they are “confused about the Bitcoin halving.” He even assumed that most of them are probably unaware that halving exists. Some of them, per Mow, don't know whether the Bitcoin price will be pushed up or down thanks to the block reward decline. Some market participants are worried that many BTC miners may shut down their gear and quit the business. “So many will sit and wait until it’s clear what comes next,” Mow concludes.

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