Hey everyone,
Just wanted to share some interesting updates from the crypto realm!
MicroStrategy's Big Move: The BI giant, MicroStrategy, just upped its game! They've acquired a whopping 5,445 BTC for around $147.3 million, with each Bitcoin at an average price of $27,053. This brings their total BTC stash to a staggering 158,245 coins, having spent approximately $4.68 billion overall. Their ongoing investments certainly highlight their bullish stance on Bitcoin.
Stock Vs. Bitcoin Movement: While MicroStrategy's confidence in Bitcoin remains high, its stock (MSTR) listed on Nasdaq hasn't been faring that well, seeing a decline since July 13th. Currently, it sits at $321.25. Interestingly, both Bitcoin's value and the stock seem to be intertwined, showcasing similar downward trends.
Bitcoin's Current State: After being stable between $25,000-$27,000 since mid-August, Bitcoin's current price is at $26,200. This marks a 1.5% dip in the last day and a 4% drop over the past week.
Analyzing Bitcoin's Bearish Trend: The crypto analyst, Rekt Capital, has pointed out that Bitcoin's bearish fractal remains. For the non-technical folks here, this means Bitcoin might see some more dips before a possible upward trend. Some believe that Bitcoin might even drop to the $22,000-$24,000 range before finding a stable footing.
However, if certain criteria are met like Bitcoin holding its Bull Market Support Band and breaching the yearly high of $31,000, this bearish outlook might be challenged.
Curious to hear your thoughts on this! Will the bearish trend continue, or are we in for a surprise? And what do you make of MicroStrategy's bold moves? Keep an eye on my posts for more updates and discussions!
Cheers!
Satoshi Trading System | Elevate Your Financial Orbit
Just wanted to share some interesting updates from the crypto realm!
MicroStrategy's Big Move: The BI giant, MicroStrategy, just upped its game! They've acquired a whopping 5,445 BTC for around $147.3 million, with each Bitcoin at an average price of $27,053. This brings their total BTC stash to a staggering 158,245 coins, having spent approximately $4.68 billion overall. Their ongoing investments certainly highlight their bullish stance on Bitcoin. Stock Vs. Bitcoin Movement: While MicroStrategy's confidence in Bitcoin remains high, its stock (MSTR) listed on Nasdaq hasn't been faring that well, seeing a decline since July 13th. Currently, it sits at $321.25. Interestingly, both Bitcoin's value and the stock seem to be intertwined, showcasing similar downward trends. Bitcoin's Current State: After being stable between $25,000-$27,000 since mid-August, Bitcoin's current price is at $26,200. This marks a 1.5% dip in the last day and a 4% drop over the past week. Analyzing Bitcoin's Bearish Trend: The crypto analyst, Rekt Capital, has pointed out that Bitcoin's bearish fractal remains. For the non-technical folks here, this means Bitcoin might see some more dips before a possible upward trend. Some believe that Bitcoin might even drop to the $22,000-$24,000 range before finding a stable footing.However, if certain criteria are met like Bitcoin holding its Bull Market Support Band and breaching the yearly high of $31,000, this bearish outlook might be challenged.
Curious to hear your thoughts on this! Will the bearish trend continue, or are we in for a surprise? And what do you make of MicroStrategy's bold moves? Keep an eye on my posts for more updates and discussions!
Cheers!
Satoshi Trading System | Elevate Your Financial Orbit
