Bitcoin Recovers Above $23K: BTC Price Surges To Hit $23.4K
• Bitcoin’s price is regaining ground as BTC price rises to hit $23.4K, with the current price of one Bitcoin being $23,218.00.
• Buyers were able to hold above key support levels of $22,800 and $22,400, preventing the negative run from continuing.
• Microstrategy Incurs a paper loss of over $1 billion in 2022 despite refusing to stop trading Bitcoin.
Bitcoin Price Rises To Hit $23.4K
Bitcoin’s price is regaining ground as BTC price rises to hit $23.4K. At the time of writing, the price of one Bitcoin is $23,218.00 with a market cap of $447,716,375,906 and a total supply of 19,284,550 BTC ranking #1 on Coinmarketcap. Buyers managed to hold above two important support levels at $22,800 and 22,400 which prevented further downward movement in the cryptocurrency market.. Resistance Levels: $50,000 ,$55 ,000 ,$60 ,000 Support Levels:$25 ,000 ,$20 ,000 ,$15 ,000
Bulls Protect Existing Support
Since January 2021 and 30th bulls have been protecting existing support levels by not letting prices fall below last bottom at 21k 200 if bears had broken below 21-day line SMA .Yesterday BTC surged to a high of 23350 before being stopped by resistance level however buyers still need to lift bitcoin above 24 k if they are looking for a rebound back up again towards 25212 mark .The Relative Strength Index for period 14 shows that Bitcoin is above level 63 and in the uptrend zone .
MicroStrategy Refuses To Stop Trading Bitcoin Despite Losses
Despite having incurred a paper loss on their Bitcoin (BTC) assets amounting up to more than 1 billion dollars in 2022 software analytics company MicroStrategy says it has no intention yet of stopping trading Bitcoins as this was done purposely in order to generate tax losses . Last quarter they reported 34 million dollar losses on their first ever sale but this has not deterred them from making further investments .
As long as Bitcoin maintains its position above key support levels it can continue moving upward while if these supports are broken then it might indicate negative trend continuing so investors should keep an eye out for any dips that occur in order to grab profits when possible . MicroStrategy’s refusal to stop trading bitcoins even after such huge losses shows how dedicated they are towards investing in cryptocurrencies regardless of short term or long term gains or losses .