Michael Saylor, the co-creator and currently the executive chairman of MicroStrategy business intelligence firm, has taken to his account on the social media network X (formerly known as Twitter) to send a mysterious Bitcoin message to the millions of his followers.
“The Sons of Bitcoin”
Bitcoin enthusiast Saylor shared an artwork, where he had been replaced by an image of Bitcoin’s orange and white logo on his face. Remarkably, this creation bears a strong likeness to Rene Magritte’s renowned painting, The Son of Man.
In a similar vein to the painting where someone holds an apple, Michael Saylor is dressed in a suit, overcoat, and bowler hat, but instead of an apple, his face is concealed by a Bitcoin symbol. Michael Saylor tweeted: “We are The Sons of #Bitcoin.
We are The Sons of #Bitcoin
— Michael Saylor⚡️ (@saylor) December 11, 2024
The Bitcoin community expressed overwhelming approval and support for Saylor and his optimistic Bitcoin viewpoint, through an outpouring of excited remarks.
Over the last day, I’ve seen a positive shift in my crypto portfolio as Bitcoin, the world’s leading digital currency by market cap, has rebounded approximately 4.65%. Currently, each Bitcoin is being traded at around $98,650, having dipped to $94,200 on Tuesday.
Whales rushing to buy Bitcoin
Yesterday, Bitcoin dipped to around $94,200, sparking concerns and speculation about its potential further decline. According to Santiment, such apprehension, characterized by fear, uncertainty, and doubt, is currently prevalent in the market. Some analysts are forecasting that Bitcoin could drop as low as $89,000 or even $80,000 in the near future.
Contrarily to what the masses anticipate, Santiment’s on-chain analysis suggests that prices tend to move in a way that’s opposite to their expectations. In simpler terms, “fear is typically a prerequisite for prices to bounce back.
As an analyst, I’ve noticed a significant trend in the Bitcoin market: when prices take a dip, large-scale investors, often referred to as “whales,” are actively buying. Specifically, around 342 wallets holding more than 100 Bitcoins each were created during the recent drop from $104,000 to $90,000, suggesting that these whales saw this as an opportunity to accumulate more Bitcoin.
— Ali (@ali_charts) December 11, 2024
During this period, as per the information provided by cryptocurrency expert and trader Ali Martinez, it appears that large investors, or “whales,” have been taking advantage of the recent drop in Bitcoin’s value. Although the price temporarily fell from $104,000 to the $90,000 range, a total of 342 new Bitcoin wallets holding at least 100 Bitcoins were created.
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2024-12-11 17:31