“Bitcoin Is Going Ballistic”, Michael Saylor Says As BTC Holds Above $90,000

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As a seasoned crypto investor with a decade of experience under my belt, I can confidently say that Michael Saylor’s latest tweet about Bitcoin “going ballistic” resonates deeply with me. I’ve been on this rollercoaster ride since the early days, and I must admit, the highs are always worth the occasional dips.

On his official Twitter account, MicroStrategy’s Michael Saylor is rallying the troops of his 3.6 million followers, urging them to maintain their holdings and consider investing in the original digital currency – Bitcoin.

“Bitcoin is going ballistic”: Michael Saylor 

Saylor pondered over the recent surge in Bitcoin’s price, which appears to have slowed down temporarily. In fact, it has experienced a slight setback today, with BTC recording a nearly 3% drop. After maintaining its position above the $90,000 mark for an extended period, Bitcoin was unable to sustain that level and fell to $89,140.

Bitcoin is soaring high, Saylor posted on Twitter, sharing a picture generated by AI that depicted him in an astronaut suit, floating in a space station.

#Bitcoin is Going Ballistic

— Michael Saylor⚡️ (@saylor) November 14, 2024

Earlier today, Saylor tweeted that he was preparing a “$100,000 Bitcoin party,” apparently expecting the largest cryptocurrency to break above the $100,000 level.

VanEck predicts $180,000 per Bitcoin next year

In his latest interview on CNBC’s Squawk Box show, Matthew Sigel, who leads digital assets at VanEck wealth management, expressed his belief that the Bitcoin price surge is not about to decelerate but may continue to pick up speed instead.

VanEck’s predictions proved accurate as the significant price surge following November 5 showed high volatility, according to Sigel. Currently, there appears to be no technical barrier preventing Bitcoin from continuing its upward trajectory. In line with his projection, Bitcoin is expected to surpass previous all-time highs multiple times within the next two quarters, mirroring a trend that occurred four years ago.

In November of 2020, Bitcoin doubled as stated by VanEck’s executive. However, it experienced approximately six drops of around ten percent in value. Consequently, we shouldn’t expect a consistently upward trend on charts now. To date, Sigel mentioned, since the US political leadership underwent a significant shift, Bitcoin has risen by 30%.

Matthew Sigel stated that several signs we monitor are still signaling positively for this rally to persist, and he predicts a potential price of $180,000 next year. He highlighted that the U.S. government is shifting its stance towards cryptocurrencies, with plans to establish a Strategic Bitcoin Reserve and potentially replace SEC Chair Gary Gensler, who has been criticized for repeatedly suing crypto companies in the U.S., thereby restricting their growth.

Currently, according to Sigel’s statement, it appears that cryptocurrency firms are considering returning to U.S. soil, establishing new workplaces in the process. This move could potentially create numerous employment opportunities, benefiting both the burgeoning crypto sector and the overall U.S. Gross Domestic Product (GDP).

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2024-11-14 18:56