‘Bitcoin Is Oversold’ Samson Mow Says As BTC Falls Below $90,000

Samson Mow, a Bitcoin supporter and the chief executive officer at Bitcoin focused-company JAN3, has taken to his account on the X social media network (formerly Twitter) to comment on the Bitcoin crash that has taken place over the past day.

The world’s pioneer cryptocurrency Bitcoin has fallen by more than 7%. It started to pare its losses but then the fall continued.

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Mow’s Bitcoin statement: “Bitcoin is oversold”

In his tweet, the JAN3 boss stated that Bitcoin is “oversold” and told the market to “run it back.” By now, Bitcoin has continued descending and has lost 7.45% in total over the past 24 hours. Today alone, BTC has shed 3.54% and is changing hands at $88.830 at the time of this writing.

This is the lowest price level faced by Bitcoin since mid-November 2024, according to CoinMarkeCap.

Experts believe that the crash has taken place mainly due to the import tariffs imposed by president Trump on Canada and Mexico to take effect a week from now – on March 4. Besides, there have been massive liquidations in the crypto market and big outflows from Bitcoin spot ETFs.

In the comments under Mow’s post, some X users pointed out that cheaper Bitcoin levels are good for the community since they allow them to buy BTC on the dip.

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Michael Saylor says Bitcoin is on sale

Earlier today, prominent Bitcoin evangelist and the executive chairman of Bitcoin-powered giant Strategy published a tweet, in which he hinted that now it is a good time to buy “digital gold” Bitcoin – Saylor announced that “Bitcoin is on sale” now.

As if to prove his statement, Strategy yesterday announced yet another massive Bitcoin acquisition made for $1.99 billion. That was enough to purchase 20,356 BTC. The acquisition was made using the $2 billion raised in the course of the recent convertible senior notes offering made to the company’s institutional customers.

The company now owns a total of 449,096 BTC valued at approximately $33.1 billion. Saylor recently stated that Strategy intends to surpass 500,000 BTC in cryptocurrency holdings.