Experts believe Bitcoin reaching $1 million and the "Omega candle" pattern are very close.

Samson Mow, a prominent Bitcoin supporter, entrepreneur, and CEO of Jan3, recently predicted that the “Omega candle” and the $1 million Bitcoin (BTC) level “are very close.”

This Bitcoin advocate argues that the actual supply is much lower than the market realizes, and that prices below $120,000 are too cheap compared to their true value.

Samson Mow explains why the $1 million Bitcoin price will come.

In an interview with Pete Rizzo, Samson Mow Chia that recent market developments are challenging the view of Bitcoin's fixed four-year cycle . He noted that Bitcoin's price reached an all-time high before the halving and then created a new, less dynamic peak.

Some people believe this is the peak of the cycle and predict a long-term market correction, but Mow disagrees with that view.

"Right now, everything is very unpredictable. And I believe that the Omega candle and Bitcoin reaching $1 million are just around the corner, especially with the increasingly strong buying pressure from Saylor via STRC and many other Bitcoin holding companies also participating," he Chia .

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Mow didn't give a specific timeframe, but suggested the surge would happen "very quickly."

"There are only 21 million Bitcoins in circulation, and less than 1 million are still available for mining. Plus, there are many large organizations buying relentlessly, regardless of the price and with no intention of stopping. So if you don't believe a Bitcoin could reach $1 million, good luck. But it will happen," he emphasized.

Samson Mow argues that the actual supply of Bitcoin is far more limited than the market understands. He suggests this misunderstanding could lead to a supply shock as Bitcoin's limited supply becomes increasingly apparent.

“Many people think there are about 2-3 million Bitcoins on exchanges ready to be sold. In reality, that number isn't meant to be sold indefinitely. It's just liquidation, used by market makers, trading firms, and hedge funds to conduct other activities on the exchange. It's not simply a matter of selling and not buying back,” Mow clarified.

He also emphasized that large institutional investors, such as MicroStrategy, run by Michael Saylor, continue to accumulate shares even when prices fall , thereby reducing the Medium cost of their purchases.

Similar moves from other fund management companies like Metaplanet further reinforce the view that they are the ultimate buyers of Bitcoin regardless of price, continuously absorbing the available supply on the market.

According to Mow, the fact that there are still many investors willing to sell Bitcoin at relatively low prices has allowed large institutions to continue accumulating it, but this will not last forever.

Furthermore, Mow asserted that "we are still in a very early stage." Based on factors such as inflation and valuation models like stock-to-flow, he believes that Bitcoin is currently still significantly undervalued.

“Even if the price is below $120,000 or $110,000, I think it's still below fair market value. Just looking at inflation, the price of Bitcoin needs to be around $111,000 to offset inflation over the past 4-5 years. Stock-to-flow models also show that fair value should be around $110,000-$115,000, so the current price is a very deep discount. The reason is that many people still don't fully understand Bitcoin,” he commented.

Experts support the forecast that Bitcoin will reach seven figures.

Mow's view also aligns with predictions from major names in the financial sector. Matt Hougan, Chief Investment Officer of Bitwise, believes that Bitcoin could reach $1 million if it captures approximately 17% of the projected $121 trillion store of value market within the next decade.

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ARK Invest CEO Cathie Wood maintains her forecast that Bitcoin will reach $1.2 million by 2030. Wood had previously revised her forecast from $1.5 million by the end of 2025 down to $1.2 million, citing the strong growth of stablecoins.

The gap between Bitcoin's predictions and reality.

Despite many optimistic predictions, the reality is that the price of Bitcoin is still nearly 39% lower than its all-time high of over $126,000 in October 2025. On April 27, 2024, Bitcoin was trading at $76,855, and many analysts predict the market will only bottom Dip at the end of 2026.

From a price of around $76,855, for Bitcoin to reach $1 million, it would need to increase by nearly 1,200%, or more than 13 times its current price. While this is mathematically feasible in the long term, it is unlikely to happen in the short term.

Bitcoin has also failed to live up to many bullish forecasts for 2025 predicting that the price will reach $150,000 or higher by the end of the year. While the asset may well reach seven figures in the future, the path to get there seems much longer than Mow's "Omega candle" idea suggests.

These predictions are merely scenarios, not definite targets, and for Bitcoin to reach $1 million, a major structural shift in the market would be necessary.