As a seasoned market analyst with over two decades of experience under my belt, I’ve seen trends come and go, bubbles burst, and fortunes made and lost. In this ever-evolving landscape, one figure who consistently keeps me on my toes is Michael Saylor, the Bitcoin-loving CEO of MicroStrategy. His latest post, with a picture of him surrounded by mountains, is a classic Saylor move – bold, audacious, and undeniably catchy.
Michael Saylor, an ardent Bitcoin advocate who serves as the CEO of MicroStrategy, recently shared a fresh update regarding the prominent digital currency on a public platform.
It is worth remarking that Saylor often erupts the public space with posts focused on Bitcoin. Sometimes they seem delusional, sometimes funny, but overall they reflect the vision Saylor has for cryptocurrency.
During this occasion, much like any other, MicroStrategy’s CEO made a statement titled “Going Higher,” which was followed by an AI-created picture showing him amidst towering mountains. This move was undeniably characteristic of Michael Saylor.
Going Higher. #Bitcoin
— Michael Saylor⚡️ (@saylor) September 23, 2024
Initially in this week, the price of Bitcoin saw a decrease, following a two-week period where it had increased by 16%. Specifically, on Monday, Bitcoin experienced a drop of 0.41%.
Bitcoin (BTC) price outlook
Examining Bitcoin’s daily price graph, we notice that its value has met with the significant level of $63,950, which is a 200-day moving average. This level acts as both resistance and support, making it particularly strong. Interestingly, Michael Saylor’s recent post coincides with a pivotal point for Bitcoin and the broader crypto market.
Should the 200 Simple Moving Average (SMA) be surpassed, we might witness a swift increase towards approximately $65,000 per BTC, encountering another robust resistance point. If Bitcoin doesn’t manage to hold its ground here, it could potentially dip back down to the $60,000 region, where further movements will depend on the actions of both buyers and sellers.
It makes sense for Saylor to be excited, considering MicroStrategy owns approximately 252,220 Bitcoins. Yet, it remains uncertain whether the price of Bitcoin is truly on an upward trajectory at this moment.
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2024-09-23 18:33