The American businessman and CEO of MicroStrategy, Michael Saylor, who is known for his strong support of Bitcoin, recently posted a comment on the cryptocurrency along with an AI-generated image of himself surrounded by mountains. While Saylor's enthusiasm is evident, the price of Bitcoin started the week with a decrease after seeing a 16% gain in the previous two weeks. The price is currently encountering the 200-day simple moving average at $63,950, a crucial level of support and resistance. If this level is breached, Bitcoin could rise to $65,000, but if it fails, a fall to $60,000 is possible. Saylor's optimism may be influenced by the fact that MicroStrategy owns a significant amount of BTC, but it remains uncertain if the price of Bitcoin will indeed go higher.



Other News from Today