The post Here’s What Michael Saylor’s Advice To Bitcoin Investor, Price To Fall More? appeared first on Coinpedia Fintech News
Michael Saylor, co-founder of MicroStrategy and a prominent Bitcoin advocate, has shared valuable advice for the Bitcoin community following a sudden drop in Bitcoin’s price. As Bitcoin lost its $67,840 resistance level, plunging to $65,600 overnight, Saylor’s words aim to boost confidence among both seasoned investors and newcomers to the crypto world.
A Call for Bitcoin Mindset
Saylor, well-known for his strong belief in Bitcoin, encouraged the community to “Learn to think in Bitcoin,” in his recent tweet post. This statement highlights the importance of adopting a long-term perspective on Bitcoin’s value and potential. Saylor’s advice comes at a time when market volatility can easily unsettle investors, especially those who are new to the space.
Leading from the front MicroStrategy, began its journey into Bitcoin in August 2020 and has since developed a long-term strategy focused on accumulating the leading digital currency. As of now, MicroStrategy owns 214,400 bitcoins at an average price of $35,158.00 with a total cost of $7.538 billion.
Last week marked a significant turnaround for Bitcoin ETFs, which attracted $1.8 billion in inflows after a previous streak of 19 consecutive days without them. On Wednesday alone, these BTC-based products saw an impressive $101 million in inflows, signaling growing investor interest and confidence.
Bitcoin To Drop Ahead: $63K
Popular crypto analyst Michael van de Poppe has been analyzing the current state of Bitcoin. He observed that BTC has been stuck between $57K and $73K for a long time and expects the price to decline further in the first part of the week. However, he believes that BTC will hold firmly in the $63K to $64.5K range.
Although Bitcoin’s sideways price action has led to some impatience among investors. However, if the BTC price manages to give some surprises on the upside. As of now, BTC is trading at $65,681 showcasing a drop of 2% with a market cap of $1.29 trillion.