A veteran of the Bitcoin ecosystem says BTC is entering a phase where extreme upward price momentum will normalize.
In a new interview on the Block Rewards podcast, Samson Mow says that BTC is almost ready to move from printing “God Candles” – $10,000 daily moves – to “Omega Candles” representing $100,000 daily moves.
Mow points out that Omega candles are already taking place regularly in some countries with much weaker currencies than the USD.
“The world will change. I think after $100,000 everything starts to accelerate and go faster.
So, we will not observe any $500 candles after the $100,000 mark. A $1,000 candle is already somewhat normal in terms of volatility in a day, and I think the next step up from that is the $10,000 and $100,000 candles.
A few weeks ago we almost had a divine candle. I think we were up $9,000 that day. But $100,000 is the next step. Once we start moving into the higher reaches of Bitcoin.
But it just shows you that the fiat system doesn’t really make sense anymore because an Omega candle has nothing to do with fiat money. As if the debt increased by a few omega candles…
