Samson Mow, the founder of Bitcoin technology infrastructure company Jan3, argues the Bitcoin bull run is yet to begin, as Bitcoin fell to just under $100,000 earlier this week.
“The Bitcoin bull run hasn’t started yet. We’re just marginally outperforming inflation at this price range,” he said on Wednesday.
Bitcoin (BTC) and the broader cryptocurrency market continued to slump this week, with analysts attributing the decline to trade tensions between the US and China, as well as other macroeconomic factors. Bitcoin selling intensified on Tuesday, and CoinGecko data shows the price dipped to $99,607 on Wednesday.
However, Mow, in a series of bullish X posts, predicted the market still has plenty of upside on the horizon as Bitcoin continues to outperform the US inflation rate of 3%.
Among his posts, Mow also told one commentator he is “not uncertain” when asked whether Bitcoin could see a “Christmas god candle,” which typically represents significant buying pressure and bullish momentum.
Mow stated earlier this year that he thinks Bitcoin would jump to $1 million in a “short and violent upheaval.”
Mow also said on Wednesday that for those who do believe in cycles, they could expect a cycle top in 2026. However, he also said he doesn’t believe in cycles.
“Bitcoin has been basically flat for 2025. If you believe in cycles, then it hasn’t topped,” he said.
“That means a longer cycle, cycle top in 2026? or it means a generational bull run for a decade, like gold post ETF, or it means no more cycles again, Omegacycle. Plan accordingly,” Mow added.
Bitcoin OGs not selling, Mow says
Macro analyst and Wall Street old hand Jordi Visser said on Sunday that he believes Bitcoin is undergoing an initial product offering phase, where existing holders are selling, and new traders are snapping up the coins.
However, Mow argued on Tuesday that fears of Bitcoin OGs selling are overblown and that traders should focus on the next bull run.
“People are fearful because they created their own theory that OGs are selling above $0.1M, and they may sell more. It’s incredible how people are capable of self-owning themselves with fear. Focus on the big picture. Bitcoin is going to add a zero, it’s just a question of when.”
Related: Bitcoin whale who held for 7 years sells $76M to go long on Ether
“I don’t know any OG’s that are selling btw,” he added.
Market in “greed” right now, according to Jan3
The Crypto Fear & Greed Index, an indicator that tracks market sentiment toward Bitcoin and cryptocurrencies, returned to “extreme fear” this week.
Mow’s company Jan3 has its own index, though, which claims to invert the “classic index.”
“The market’s crying. Bitcoiners? Still stacking. Fear and Greed Index sits at 23 which is the Extreme Greed area. Because Bitcoiners fear missing sats, not Bitcoin price drops,” the company said on Wednesday.
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