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Crypto vs. Dollar

📌 Michael Saylor has broken his silence on BTC in cryptocurrency delirium

While the cryptocurrency market is under selling pressure, MicroStrategy CEO Michael Saylor made a bold statement about BTC: its time to bet on Bitcoins future. Bitcoin

– While the cryptocurrency market is under selling pressure, MicroStrategy CEO Michael Saylor made a bold statement about BTC: it’s time to bet on Bitcoin’s future.

The cryptocurrency market is currently experiencing a steep decline. Bitcoin and other major digital assets have dropped significantly in value. This phenomenon, dubbed the “crypto bloodbath,” has shaken investor confidence and led to speculation about the sustainability of the recent bull market.

Against this backdrop, bitcoin’s value fell to $65,000, while its record high was over $73,000.

Saylor, a longtime bitcoin supporter, issued a statement that resonated with many in the crypto industry, reiterating his optimism about bitcoin’s long-term potential despite the current market volatility.

Bet on the future… bet on BTC,” Mr. Saylor wrote in post X.

Mr. Saylor’s comments came at a pivotal moment, with bitcoin’s price falling 8% in the past 24 hours.

Bitcoin briefly fell to $64,980, its lowest intraday price since March 24, but then recovered its losses. At the time of writing, BTC had fallen 6.63% in the previous 24 hours to $65,116.

Meanwhile, the bitcoin halving event scheduled for April 2024, which will reduce the bitcoin mining fee from 6.25 BTC to 3.125 BTC, is likely to reduce the supply of new bitcoins and increase demand.

With less than 20 days left until the fourth bitcoin rate cut, the current countdown to the bitcoin halving event is 18 days and the scheduled date is April 20, according to OkLink. There are 2,602 blocks left for this event.

MicroStrategy, led by Mr. Saylor, has become a major player in the bitcoin industry and owns a significant share of the cryptocurrency. Despite the market volatility, Mr. Saylor remains an unwavering believer in bitcoin.

Tomiwa Bold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to the study of cryptocurrencies, conducts comprehensive price analysis and shares predictions on expected market trends. Tomiwa Bold graduated from the University of Lagos.

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