1/5
Morning update:
Yesterday, Bitcoin attempted to break out but got rejected at our trackline and closed the daily candle just slightly above its start. Price-wise, we could say that it was another uneventful day😴$BTC
Bitcoin is the first and most popular cryptocurrency. It powers a peer-to-peer network for the exchange of value through the use of a decentralized protocol. The idea behind Bitcoin is to have a system where there is no middleman or central authority. Bitcoin refers to the Bitcoin software protocol as well as to the monetary unit, which goes by the ticker symbol BTC. At its most basic level, Bitcoin is useful for transacting value outside of the traditional financial system. You can buy and sell BTC for other cryptocurrencies alongside more traditional currencies at crypto exchanges like Binance, Kraken and Bitstamp.
Bitcoin was launched in 2009 by a mysterious person (or group of people) known as Satoshi Nakamoto. What sets Bitcoin apart is that it's completely decentralized, meaning no single entity controls it. Instead, it's maintained by a network of computers, known as miners, who validate transactions.
You can break a single Bitcoin down into 100 million tiny pieces called "satoshis." Owning and sending Bitcoin is fairly straightforward. You keep them in a digital wallet and can send fractions of a Bitcoin to pay for stuff. But when you dig into the technicalities, it's like peeling an onion—layer after layer of complexity.
All Bitcoin transactions happen on a blockchain. Think of it as a public digital ledger that everyone can see but no one can tamper with. Miners are the ones who validate and secure these transactions. They solve complex math problems to validate transactions and are rewarded with new bitcoins for their efforts.
Key Points to Remember
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1/5
Morning update:
Yesterday, Bitcoin attempted to break out but got rejected at our trackline and closed the daily candle just slightly above its start. Price-wise, we could say that it was another uneventful day😴$BTC
$LINK 's relative strength is impressive. We are happy with our position and will not sell our link any time soon. This could be a big winner in the next bullmarket.
We don't buy the alt-blood in $ARB $SOL and $XRP yet. We wait for a confirmation that they stop bleeding in $BTC value and the tide is turning. This will probably happen after a $BTC bullrun.
3/4
The fact that Bitcoin price did not move is even more impressive taking into account the fact that the SEC delayed the decision on 2 ETFs (Ark and 21Shares).
Or is it due to the fact that four members of US Congress urged SEC Chair Gary Gensler to promptly approve spot $BTC ETF🤷♂️ $BTC
MicroStrategy, under the leadership of Michael Saylor, continues its aggressive acquisition strategy by purchasing an additional 5,445 $BTC, bringing their total holdings to approximately 158,245 BTC. With this acquisition, the company's total investment in Bitcoin stands at roughly $4.68 billion.
2/4
Meanwhile, Microstrategy announced that it acquired an additional 5,445 $BTC for ~$147.3 million at an average price of $27,053 per bitcoin. As of 9/24/23 MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin👀
Fun fact, you can still buy bitcoin below their entry😉