MicroStrategy has bought more $1.026 billion worth of Bitcoin.

[ethereumhunter]

Just like what i was expecting and my assumption was right . Definitely, it's a positive news and i was expecting a rebound into the price of Bitcoin. But this time, it couldn't able to create a positive vibes to rebound quickly as correction was huge. TBH, it's a great sign of a massive bullish rally in the upcoming days.

No problem about that. At least, with that news, people out there will see what that company does, and that can invite them to follow buying bitcoin too. Maybe it will not affect this day, but in the future, there will be more people who will invest in bitcoin, and that can make the adoption still grows. That can give a bullish rally in the next week.

I hope you were right if this dip has a meaning of going more bullish next week because what just happened is MicroStrategy really did bought $1B worth of Bitcoin but why is it the market going the other way around? Maybe there's no fomo triggered during their buy-in but instead it causes a panic but I guess most probably the cause of this panic is the tweet of Elon Musk.

Anyway, this dip is just temporary IMO because it looks like it is ready for a new ATH maybe next month or so but I hope March won't be the same just like in 2020. It could be a super dip if that's going to happen.

We will see that. I do not know why the market is going the other way as I do not see negative news besides Elon Musk's tweet. But I see that this moment is a good way to buy low and sell high because I see the price can move good in the market. In daily, I see the price is down and up again in the next few minutes to help us make a profit.

I always hope that the price will be back to more than $58k and break the $60k barrier, but it seems, bitcoin price will be like this for a while. So maybe we can use this to trade.

[1714819032]

1714819032

[1714819032]

1714819032

[1714819032]

1714819032

[Review Master]

I do not know why the market is going the other way as I do not see negative news besides Elon Musk's tweet.

I always hope that the price will be back to more than $58k and break the $60k barrier, but it seems, bitcoin price will be like this for a while. So maybe we can use this to trade.

Downtrend is done because of the creation of daily candle below 20 MA indicator and more future contracts will be expired sooon. But there is a bullish divergence in RSI which means market will be on bullish rally sooner or later. Also, btc might have side-way movement for sometimes , than it might go for crossing the $58k price level to make a new ATH, IMO.

Maybe there's no fomo triggered during their buy-in but instead it causes a panic but I guess most probably the cause of this panic is the tweet of Elon Musk.

Indeed, but it's not only about that tweet as March is a month of bearish trend for bitcoin according to previous history. So, everyone was in doubt that next month will be bullish or not after this huge dump. In that case, everyone was in panic mode and fomo can't be triggered even after circulating the news of buying $1 Billion worth of Bitcoin by Microstrategy, IMO.

[The Sceptical Chymist]

WOW.  And it looks like they didn't even get a bulk discount on their purchase, either--and as of this very moment, they've lost on this last investment, since bitcoin is just under $48k.  I'm wondering when the CEO is going to stop buying.

Hopefully this is all kosher with MSTR's shareholders, because holding that much bitcoin is obviously extremely risky and sometimes stockholders don't like to see companies do stuff like this.  But I just took a look at MSTR's stock price, and it's soaring still.  Obviously right now those shareholders don't seem to mind, but what happens if and when bitcoin starts to tank?  I'm hoping that won't happen, but we could all probably agree that it could, in which case MSTR will have taken a huge paper loss.

This is definitely bullish news, though.  I'm expecting bitcoin to be well above $50k again by next week (and I'm keeping my fingers crossed for that).

[Smartvirus]

Big investors are constantly strengthening their position from every dip for the next big market change.

This is what i've noticed to be occurring more frequently in the market after the last bullrun which we aren't sure have completely faded with the series of up and down nature the market has been displaying these days. The new wave bitcoin has created has made the market very biased as no big correction is observed in the market these days with big investors strengthening their position at every dip, investing huge in the market and making it pump once again with a lower high that is likely not to be broken sooner and so on.

[The Sceptical Chymist]

I'm expecting bitcoin to be well above $50k again by next week (and I'm keeping my fingers crossed for that).

And here we are, with bitcoin at exactly $50k after dropping about $1k in the last couple of hours--not quite the gain that'd I'd predicted, but bitcoin's been on a wild ride these past two weeks.  I'm pretty sure there are a lot of small traders or long-time hodlers who took their profits off the table, which has caused a lot of volatility.

Meanwhile.....


I'm not sure MSTR's price drop has anything to do with their purchase of bitcoin, just like with the Tesla situation.  As I said in another thread, the entire stock market is flying high and is extremely overvalued, so any stock that's been declining in the past month or two would not surprise me in the least.  Better the air comes out slowly IMO than a complete popping of what could be a bubble.

Haven't heard anything negative from the shareholders, though.