Samson Mow, CEO of Jan3 and a prominent Bitcoin advocate known for his maximalist views on the cryptocurrency, has sparked optimism among Bitcoin enthusiasts with his recent remarks predicting significant price movements.

In a tweet, Mow highlighted the increasing likelihood of Bitcoin making a substantial upward move, referring to the possibility of an "Omega candle" forming on the charts if certain conditions are met. According to Mow, the current compression in Bitcoin's price action, often referred to as "the Bitcoin coil," suggests that a prolonged absence of major downward movements (termed as "Godzilla candles") increases the chances of a dramatic upward surge ("Omega candle").

Responding to speculation, Mow entertained the idea of Bitcoin potentially surging from around $70,000 to an ambitious $200,000, aligning with sentiments of extreme bullishness in the market. His response has resonated with followers, including those who humorously pondered waking up to a significantly higher Bitcoin price.

Meanwhile, recent data from the Santiment on-chain data aggregator indicates a surge in Bitcoin buying interest following recent price declines below $67,000. This spike in FOMO (fear of missing out) and greed reflects heightened market sentiment as traders anticipate Bitcoin's next major move.

Bitcoin's recent price movements underscore this volatility, with the cryptocurrency dipping below $70,000 twice this week. After an initial drop to $66,200 on Monday followed by a recovery, Bitcoin faced another decline to $66,415 later in the week. As of the latest update, Bitcoin has seen a slight recovery, trading at approximately $66,930 on the Bitstamp exchange.

Market analysts and traders are closely monitoring these developments, considering scenarios where Bitcoin could either rally sharply or face further corrections before potentially rebounding. The ongoing volatility underscores both the excitement and caution surrounding Bitcoin's price trajectory in the near term.