Bitcoin has fallen by 1.5% in the last 24 hours, dropping to $95,287 as the overall cryptocurrency market experiences a 2.5% loss today. Over the past week, BTC has declined by 3%, as the market struggled to break through new highs.
Despite this, Bitcoin maintains a strong performance with a 37% increase over the past month and a remarkable 146% gain over the past year. Its anticipated rise to $100,000 now seems like a matter of when, not if. Moreover, some analysts suggest that it could exceed this target.
Saylor’s Bold Bitcoin Pitch to Microsoft
Michael Saylor, CEO of MicroStrategy, recently presented to Microsoft’s shareholders, proposing that the tech giant add Bitcoin to its balance sheet. His argument centered on Bitcoin as the next major technological advancement, offering superior capital preservation compared to traditional stores of value.
Saylor predicts that Bitcoin’s market capitalization could soar from $2 trillion to $200 trillion in the next 21 years, based on historical trends. He suggested that such an investment could add $4.9 trillion to Microsoft’s market value over the next decade.
While there is no concrete indication that Microsoft will adopt this strategy, the fact that the company invited Saylor to present on Bitcoin is significant. This, combined with a more crypto-friendly US government, increases the likelihood that major corporations, including Microsoft, may begin investing in Bitcoin.
Bitcoin’s Potential for Growth in the Coming Months
Bitcoin’s recent price chart suggests it may be poised for a rebound after a slight dip. Its Relative Strength Index (RSI) recently touched an oversold level of 30, signaling a potential turnaround. Additionally, the 30-period moving average is nearing a crossover below the 200-period moving average, which could indicate stronger upward momentum in the near future.
With the price hovering just below $100,000, Bitcoin is expected to eventually break through this barrier. The medium- and long-term prospects remain strong, and Bitcoin is on track to reach new highs by the end of the year.
Exploring New Presale Coins for Potential Growth
While Bitcoin continues to perform well in a rising market, traders looking to diversify their portfolios might consider smaller altcoins with high growth potential, especially presale tokens. These tokens often experience significant growth from their low starting points, presenting lucrative opportunities.
One promising presale coin is Crypto All-Stars (STARS), an Ethereum-based token that has raised $7.6 million in its presale. Crypto All-Stars offers a unique feature called the ‘MemeVault,’ allowing holders of meme tokens to stake their assets and earn rewards. By utilizing the ERC-1155 multi-token standard, it can tokenize any cryptocurrency, even those not based on Ethereum, which could lead to widespread adoption.
Crypto All-Stars’ innovative approach and growing momentum make it an exciting project to watch.
The post Strong Buy Signals Emerge as Saylor Predicts Microsoft Could Add $4.9T with Bitcoin – Will BTC Hit $150K? appeared first on Cryptonews.
