Bitcoin: Will Price Rise After Saylor’s “Bet on Bitcoin” Call?

• Bitcoin price stalls, but Saylor maintains bullish stance
• Investor sentiment cautious, but trading volume rises
• Technical indicators suggest potential Bitcoin price surge

Despite Bitcoin’s recent price stability, MicroStrategy chairman Michael Saylor has publicly reaffirmed his faith in the cryptocurrency, urging continued investment with his now-familiar phrase “Bet on Bitcoin.”

Bet on #Bitcoin . pic.twitter.com/ulmBDWDptW

— Michael Saylor⚡️ (@saylor) May 18, 2024

Saylor, a vocal advocate for Bitcoin, has consistently positioned it as a reliable store of value and a hedge against inflation. With Bitcoin experiencing an unusual period of calm following a series of volatile price swings, Saylor took to Twitter to reiterate his belief in its long-term potential.

Amidst this lull, Saylor took to Twitter to express his steadfast belief in Bitcoin’s enduring value. This latest appeal from Saylor underscores his long-standing view that Bitcoin represents a prudent long-term investment.

On the same accord, Saylor’s recent pronouncement arrives at a time when the broader market sentiment is cautiously optimistic. His call to “Bet on Bitcoin” serves both as a reaffirmation of his conviction in the cryptocurrency’s potential and a strategic move to influence the community’s confidence during this pause in price movement.

BTC: Steady Despite Sell-Offs

According to recent data from Santiment, Bitcoin’s price is holding steady above $66,100, even as smaller investors continue to sell off their holdings. This trend is noted despite a general uptick in the cryptocurrency’s price over the last week, suggesting a nuanced investor landscape.

　　Disclaimer: Includes third-party opinions. No financial advice. See Risk Warning.