When will Bitcoin bounce back?Bull Michael Saylor: Returning to $69,000 in 4 Years

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When will Bitcoin bounce back?Bull Michael Saylor: Returning to ,000 in 4 Years
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Michael Saylor, the former CEO of MicroStrategy and chairman of the board of directors, has always been optimistic about the future of bitcoin. He recently predicted that bitcoin will return to the high of $69,000 set in November last year in the next four years. He also believes that bitcoin is expected to be in the next 10 years. It went up to $500,000 at some point.

Bitcoin bull Michael Saylor mentioned in an interview Wednesday that heBitcoin’s 4-year moving average (currently at $20,000) is being monitored to try to find where the bottom is. He says, “Bitcoin has hit $20,000 several times, and I think it’s stable.”

At press time, Bitcoin is trading around $19,434.84.

Michael Saylor also believes that Bitcoin will one day replace gold as a global non-sovereign store of value. He said that if Bitcoin’s market value can keep pace with gold, Bitcoin is expected to soar to $500,000 within the next 10 years. At present, the total market value of gold is about 11 trillion US dollars, which is only 365 billion US dollars relative to Bitcoin.

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In response to the above remarks, an analyst from the cryptocurrency research team MICA Research said:

This prediction is not unreasonable. The next QE cycle will probably fall between 2025 and 2026. Based on past experience, Bitcoin will break through the previous high every cycle. Even in the face of the recent US bond interest rate soaring 4.00% It has also successfully stabilized prices, and he said that it is not unreasonable to break new highs again in the next four years.

Although Bitcoin has been trending downwards this year, MicroStrategy continues to increase its positions, and just bought 301 Bitcoins not long ago.

MicroStrategy is already known as the Bitcoin “Big Brother Stud” in the currency circle. It is the listed company that holds the most Bitcoin in the world. As of September 19, it held a total of about 130,000 Bitcoins, with a total purchase cost of 39.8 billion, with an average cost of $30,639 per bitcoin.

Michael Saylor said at the end of last year that he personally held at least 17,732 bitcoins, but he had never sold any bitcoins, and he even believed that “bitcoins should not be sold at all.”

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