U.Today – the world’s leading digital asset, has had a tumultuous experience recently as its price has fallen significantly, despite market expectations. While many investors have remained largely disappointed with the asset’s performance fluctuations, Samson Mow, a high-profile Bitcoin bull and CEO of Bitcoin adoption-focused firm JAN3, has discovered a bullish setup for BTC.
Institutional rush for Bitcoin exposure
In a post shared on X, Mow revealed what will likely cause the world’s leading digital asset to surge in a massive bull run. Mow identified an unprecedented “rush” among customary institutions to get exposure to Bitcoin.
According to Mow, central banks and enormous pension funds have increased their interest in the digital asset and are looking for exposure to Bitcoin. Additionally, public companies have increased their Bitcoin consumption by making more acquisitions. Interestingly, mining companies have also joined the search for Bitcoin.
“This is an incredibly bullish setup. Plan accordingly,” Mow said.
According to data from CoinMarketCap, the price of Bitcoin at the time of writing is $58,012.67, down 2.66% in the last 24 hours. However, the market volume is up a significant 16.47%.
Is a Bitcoin price correction on the horizon?
Interestingly, Mow attributed the current indigent performance of the digital asset to mispricing. He argued that given the increased interest of these institutional investors in Bitcoin, the price will soon reflect the growing demand. According to Mow, market forces will naturally correct the price and support Bitcoin regain its true value.
As previously reported by U.Today, bitcoin’s price briefly surged to $69,404, its highest level since June 12. While that figure represents a significant jump from bitcoin’s current price, experts believe it is the strongest bullish sentiment for the asset in the past 16 months.
While Mow did not specify the likely price range that Bitcoin will reach as a result of this extremely bullish situation, market observers say the coming days will show whether the forecast will come true.
