Bitcoin Ethereum and Dogecoin Rise as Microstrategy's Michael Saylor Acquires More BTC: Analyst Predicts King Crypto to Reach $130,000
December 27, 2023 10:11 p.m | 3 minutes read
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The most important cryptocurrencies rose sharply on Wednesday evening Microstrategy (MSTR) purchased another 14,620 BTC for around $615.7 million.
| Cryptocurrency | Winnings +/- | Price (Recorded at 9:30 p.m. EST) |
| Bitcoin (CRYPTO:BTC) | +2.37% | $43,417 |
| ether (CRYPTO:ETH) | +8.34% | $2,411 |
| Dogecoin (CRYPTO: DOGE) | +3.43% | $0.094 |
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What happened: The Executive Chairman of Microstrategy, Michael Sayloron Wednesday, tweeted that the company had acquired the bitcoin at an average price of $42,110 per unit.
This purchase increased the company's holdings to 189,150 BTC, valued at approximately $5.9 billion, with each BTC purchased at an average price of $31,168.
Top gainer (24 hours)
| Cryptocurrency | Winnings +/- | Price (Recorded at 9:30 p.m. EDT) |
| Bitcoin SV (CRYPTO:BSV) | +51.86% | $75.95 |
| Decision (CRYPTO:ARB) | +26.75% | $1.64 |
| Spirit (CRYPTO: AAVE) | +23.69% | $124.39 |
The global crypto market cap has reached $1.67 trillion, up 0.37% in the last 24 hours.
The S&P 500 rose 0.14% to close at 4,781.58, and the Nasdaq Composite gained 0.16% to end the day at 15,099.18 on Wednesday.
More information: Best cryptocurrency scanners
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analyst Remarks: cryptocurrency analyst, Michael Van de Poppe, suggests that Ethereum’s key support level is at $2,150 and is “poised to continue the upward path. We have probably bottomed out in $ETH/$BTC and peaked out in Bitcoin dominance.”
According to crypto analyst Crypto Tony “If you are looking for a long position, remember that we need to reclaim $44,300.”
Another pseudonymous analyst Crypto Kaleo said, “ Ethereum appears poised for a big move after the recent HTF double low if it can reclaim the HTF support level it lost in early October. One of the most forgotten narratives of the past year has been the deflationary mechanism of mergers.”
The analyst added: “While we complained about high gas prices and the lack of ETH usability, 339,000 ETH (currently worth $800 million) were burned from the total supply. While this number may seem insignificant compared to ETH’s mcap of $280 billion.” “I expect it to accelerate quickly as the bull market continues to gain momentum.”
In the meantime, CryptoCon expects Bitcoin to hit $130,000, citing technical indicators. “The LMACD adds another layer of confirmation with a descending cycle mid-top trend cross. For investors who have not yet taken advantage of the green year’s accumulation prices, this gives another opportunity.”
According to the theory of halving cycles, CryptoCon expects a true cycle high of +/- 21 days from November 28, 2025. “My expected price is around 130,000 according to several major price experiments, but I will trade at whatever price the data tells me.”
Photo by Wit Olszewski on Shutterstock
continue reading: Jim Cramer advises against using Binance, sparking strong reactions from Twitter users
“End 2023 successfully with 3 hot stock ideas – practically free”
Are you ready for your chance at the next potential gains of 32%, 39% or 45% in today's market? You'll miss out on stock expert Gianni Di Poce's three latest stock ideas…ideas that could change your entire wealth-building journey. If you're ready to end 2023 strong with 12 hot stock ideas every month. REACT FAST.
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