At the 4-hour TF, the technical picture for bitcoin has not changed over the past day. The cryptocurrency has consolidated below the ascending trend line and continues to fall. At the moment, the Ichimoku indicator indicates a downward trend without any doubt. Cryptocurrency quotes are located below all the indicator lines, as well as below the level of $ 40,746. However, we remind you that on the 24-hour TF, the price rested on two important lines that can become an obstacle to further decline. Thus, in the next few days, more attention should be paid to the daily TF.
MicroStrategy will continue to buy bitcoins. Why do they need software development?
While many owners of large amounts of bitcoins predict a new crazy growth, and less interested analysts and experts expect a new fall in the cryptocurrency, the CEO of MicroStrategy, which was once associated with the development of analytical software, Michael Saylor said that buying bitcoin has become part of the company's business strategy. Recall that MicroStrategy is the largest public company holding bitcoins. Almost 130 thousand coins with a total value of more than $ 5 billion are concentrated in her wallet. Addressing investors with an open letter, Michael Saylor said that the company will continue to purchase BTC cryptocurrencies and even in even larger volumes. Saylor states that the company has become an "innovation in the corporate DNA", the company will continue to expand the range of software and business services provided to the market, and bitcoin investments will increase the customer base.
What is noteworthy: if in 2020 MicroStrategy invested free funds in bitcoins, now it issues bills, uses shares, and takes loans to buy even more coins. Last week, another 4,000 coins were purchased with a loan from Silvergate Bank. Thus, the company is increasingly becoming a sect of bitcoin fans. Or just one Bitcoin fan - Michael Saylor. We believe that investing available funds in a risky financial instrument is normal, given the level of potential profit. But investing credit funds in the purchase of a highly volatile and high-risk instrument is too much. Even Tesla bought bitcoin once or twice and stopped there. Why does Elon Musk's company, which has no less financial capabilities, not continue to buy the "bitcoin" headlong? Why aren't Apple and Microsoft engaged in cryptocurrencies? It is unlikely that the whole point is that Michael Saylor knows something that Apple or other IT companies do not know.
On the 4-hour timeframe, the quotes of the "bitcoin" are fixed below the trend line and continue to fall. Now we need to wait for the overcoming of two important lines on the 24-hour TF, after which it will be possible to continue selling with the goals of $ 34,267 and $ 31,100.
