Home » Bitcoin: sell-off after the record – MicroStrategy drops 15%

Bitcoin: sell-off after the record – MicroStrategy drops 15%

by admin
Bitcoin: sell-off after the record – MicroStrategy drops 15%

On Tuesday afternoon, Bitcoin reached a new all-time high for the first time in two years and broke the $69,000 mark. However, the bulls subsequently lacked the strength for further gains; the cryptocurrency was recently down eight percent below $63,000. The crypto share MicroStrategy even lost more than 15 percent.

THE SHAREHOLDER had already warned in the afternoon that things could get bumpy after the all-time high: “In the short term, crypto investors should continue to prepare for increased volatility in Bitcoin, after the strong run of the last few weeks and the longed-for break from the old high Some market participants could now succumb to the temptation to take profits first.”

Ed Tolson, CEO and founder of the crypto hedge fund Kbit, sees it similarly. He adds CNBC with a steep correction in Bitcoin that could be between ten and 20 percent. In particular, the leveraged long positions of retail investors with high financing rates could lead to cascading liquidations during downward movements. “We expect Bitcoin to perform well in the next few quarters, albeit with strong corrections,” concluded Tolson.

“The increase is so fast that we are cautious about a correction,” explains Owen Lau from Oppenheimer. “But in the longer term there are still catalysts that support positive price developments.”

Bitcoin
(ISIN: CRYPT0000BTC)

THE SHAREHOLDER therefore also remains on the bull side despite possible corrections. “The medium and long-term prospects remain excellent thanks to the high demand caused by the US approval of the first Bitcoin spot ETFs in January and the further supply shortage caused by the next halving in April,” was the summary in the afternoon.

See also  Geyer's market commentary: DAX – is about to experience an exorbitant rise

The correction after the all-time high is no surprise. In the near future, there are still further gains and an attack on the $100,000 mark. Invested investors therefore don’t give up a piece, while courageous newcomers can still get their foot in the door when there is a setback.

The situation is similar at MicroStrategy. The company, which has now mutated into a Bitcoin holding company, lost more than 15 percent of its value on Tuesday in the wake of the falling Bitcoin. However, the share price was up around 24 percent yesterday, Monday, and has more than doubled since the beginning of February. Since the initial recommendation in AKTIONÄR issue 13/23 less than a year ago, the increase has already reached 315 percent. Invested investors stick with it and raise the stop to 760 euros.

MicroStrategy
(WKN: 722713)

Note on conflicts of interest
The chairman of the board and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has taken direct and indirect positions on the following financial instruments or related derivatives mentioned in the publication, which can benefit from any price development resulting from the publication: Bitcoin.

Note on conflicts of interest:
The editor-in-chief of this publication, Mr. Leon Müller, has taken direct and indirect positions on the following financial instruments or related derivatives mentioned in the publication, which can benefit from any price development resulting from the publication: Bitcoin.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy