Michael Saylor Says Crypto Is The ‘Bridge From Chaos To Hope’
The post Michael Saylor Says Crypto Is The ‘Bridge From Chaos To Hope’ appeared on BitcoinEthereumNews.com.
The price of Bitcoin has surpassed $60,000, sparking renewed interest and speculation among bitcoin fans. In this context, MicroStrategy chairman and co-founder Michael Saylor remarked something universally relevant: “Bitcoin is the bridge from chaos to hope.” The fact that Saylor tweeted this shows how seriously he takes the possibility that Bitcoin may protect investors from economic uncertainty. #Bitcoin is the bridge from chaos to hope.pic.twitter.com/tTXPU4iXZT — Michael Saylor⚡️ (@saylor) July 13, 2024 Navigating Economic Uncertainty A digital lighthouse in a stormy financial sea, Bitcoin has reached new heights in a world where economic waves vary drastically. Still, the pleasure was fleeting. A perfect storm results from Germany’s exit from digital gold, Mount Gox’s likely rebirth, and the residual US interest rate shadow. Once a solid ship, these turbulent forces have pushed Bitcoin off course and sent investors’ compasses flying wildly. Against all these challenges, Bitcoin has shown a remarkable perseverance. Bitcoin prices fell suddenly this week due to concerns over large withdrawals from US exchange-traded funds (ETFs). But the market was given encouragement when dip buyers appeared. Bitcoin is now trading at $62,901. Chart: TradingView When Bitcoin recovers, it is vital to pay close attention to important levels of resistance and support. Strong support level of $57,670 has helped crypto researcher Ali Martinez identify resistance around $61,340 and $64,620. Martinez pointed out that Bitcoin has to close above its 200-day Simple Moving Average (SMA) at $59,207 if we are to confirm the continuous price ascent. Apart from overcoming weekly losses, Bitcoin has recently increased by 5%, trading at $60,272. BTC price in the green zone today. Source: Coingecko The recent rise of Bitcoin reflects this perspective. It grew 3.7% on the last day and peaked at $60,431. Should it close the day in the green, it will be the third…
Filed under: News - @ July 16, 2024 6:16 am