Bitcoin forecast cautioned by Michael Saylor as bears assert dominance
Michael Saylor, the co-founder and executive chairman of Strategy, has taken to social media to encourage the global Bitcoin (BTC) community to remain steadfast in their investment amidst recent market turbulence.
In a post made on his X account, Saylor shared an AI-created image depicting him as a hunter in the woods, with a bear following closely behind. The message in the image reads "Ignore the Bears," where "B" is symbolized by four vertical strokes, representing Bitcoin.
This posting comes after a week of significant volatility in the Bitcoin market. Since the start of the week, Bitcoin has lost approximately 3.66% in value, and over the past week, it has experienced a decline of more than 8%, falling from an all-time high of around $124,000 per Bitcoin.
However, despite this dip, Saylor's bullish stance on the future price and potential of Bitcoin remains unchanged. It is worth noting that Strategy, the treasury company co-founded by Saylor, purchased 430 Bitcoins worth $51.4 million on Monday, bringing their current Bitcoin holdings to 629,376 BTC, equivalent to $71,508,316,492.
Meanwhile, Ethereum has also seen a surge in value this week, reaching $4,200 and facing substantial ETF inflows. It reached an all-time high of over $1 billion around a week ago. Some analysts believe that Ethereum may outperform Bitcoin in this market cycle.
The author of this article is Yuri Molchan. This news does not contain any new information about Saylor's message or his urge to the global BTC community, nor does it indicate any specific actions or strategies for the future of Bitcoin. It serves as a reminder of Saylor's unwavering support for Bitcoin and his encouragement to the community to stay the course during times of market volatility.
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