Bullish Outlook for Bitcoin
Bitcoin has a history of surging in price when major companies adopt it. As adoption grows and mainstream interest increases, several factors could trigger a “Godzilla candle” rally.
GameStop’s Potential Impact
Bitcoin supporter Samson Mow believes that GameStop adding Bitcoin to its treasury could be the next catalyst. GameStop has a large following among young investors, who could be introduced to crypto through this move.
Mow’s Prediction
Mow predicts that if GameStop invests in Bitcoin, both $GME and $BTC will experience “Godzilla candles” (massive price surges). This is despite GameStop’s recent financial loss and decline in share price.
Bitcoin’s Current State
As of writing, Bitcoin is trading at $69,310, slightly below its recent high of $70,000. On-chain data shows significant withdrawals from crypto exchanges, indicating bullish sentiment.
Conclusion
While a Godzilla candle could lead to short-term volatility, it could also pave the way for Bitcoin to reach new heights and establish a new plateau of stability above its current all-time high.
