Jan3 CEO: Traders predict BTC will drop to $40,000 without technical fundamentals, and market fear is hard to sustain

ChainCatcher news, according to Cointelegraph, the CEO of Bitcoin technology company Jan3, Samson Mow, stated, "Bitcoin traders predict the price will return to $40,000, which is likely more out of fear than any technical fundamentals. A fear-driven market never lasts long because fundamentals will prevail over time, and even the most severe frauds like FTX, once exposed, cannot ultimately suppress the price of Bitcoin. The bears say Bitcoin will drop to $40,000, and this prediction has no basis other than self-induced fear."

Samson Mow wrote in a post on September 6, "Bitcoin can easily reach $100,000, supported by $3 billion in daily debt, Bitcoin strategic reserves, pension allocations, and corporate purchases."

According to the global market macro commentary magazine "Kobeissi Letter," the U.S. government's daily debt interest expenditure is $3 billion, three times the amount paid a decade ago, and has doubled in just 2.5 years. Calling it a "crisis" is already an understatement.