Source: Cointelegraph
Original: “Serbian Prince Filip Claims Bitcoin (BTC) is Being Stifled, Expects Significant Surge”
Filip Karađorđević, the hereditary prince of Serbia and Yugoslavia, stated that the price movement of Bitcoin may be suppressed ahead of the upcoming "ultimate omega candle" market.
In an interview with Simply Bitcoin on April 24, Filip mentioned that some market participants might be limiting the price movement of Bitcoin (BTC).
"People are able to control the market to some extent," he said. "This may be the reason why the market was stifled in 2021, and the price couldn't rise significantly. We might encounter this situation again in 2025, but eventually, there will be a point where the price of Bitcoin will break free from its constraints."
Filip added that Bitcoin is essentially still a deflationary asset, and its value "will continue to rise over time."
He referred to the concept of the "ultimate omega candle," popularized by Bitcoin advocate and Jan3 CEO Samson Mow. This theory predicts that once Bitcoin breaks the $100,000 mark, its growth trajectory will experience explosive increases.
"Rising and falling by $10,000 every day, that’s the God candle. After that, we will see the ultimate omega candle, which is a daily increase of $100,000," Mow stated in an exclusive interview with Cointelegraph in November 2024.
Mow believes that one of the factors driving Bitcoin's growth is the declining trust in the traditional financial system.
According to data from Farside Investors, in the three days ending April 23, U.S. spot Bitcoin exchange-traded funds (ETFs) accumulated $2.2 billion worth of Bitcoin, pushing the price of Bitcoin up more than 9% over the past week.
A Bitfinex analyst stated in an interview with Cointelegraph that this price movement "aligns with our strong expectations for Bitcoin relative to the stock market and the dollar," adding:
"The rebound in Bitcoin is driven by multiple factors, including macroeconomic positives, strong ETF inflows, and market expectations that the Federal Reserve will maintain policy flexibility in the face of softening economic data."
The analyst further noted that if "the stock market continues to rise during earnings week," Bitcoin may continue to increase, but "persistent macroeconomic uncertainty may limit widespread gains."
Stock market and cryptocurrency investors are also concerned about a potential economic recession in the U.S. JPMorgan predicts a 60% chance of a recession in 2025 and points out that Trump's imposition of a 145% tariff on China poses "a substantial threat to economic growth," increasing the likelihood of an economic downturn.
Related: Bitcoin (BTC) Next Key Resistance Level: $95,000—What’s the Breakthrough Opportunity?
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