Over 1400 firms were represented at the MicroStrategy Bitcoin for Corporations Event today
If you don't already know, now you know
The Bitcoin for Corporations Event was always expected to be a big event for bitcoin, the only question was, how big exactly.
While getting people to show up to a virtual presentation about one of the hottest topics in finance, you still just never know.
Well, according to Michael Saylor, the event was even bigger than I expected.
According to Saylor he had over 1400 firms/corporations represented today:
(Source: https://twitter.com/michael_saylor/status/1356712865827332099)
What's more... there was an update on CNBC while the presentation was going on that said the real number was actually over 1500 corporations being represented today.
While the impact of those likely won't be felt right away (or perhaps it will), it will most likely be felt within the coming weeks and months.
Technicals also lining up...
With the technicals also looking like they do, bitcoin sure looks like a powder keg ready to explode.
We broke out of the descending triangle and are looking to make our ways back towards the highs...
(Source: https://twitter.com/CierrePorbin/status/1357086442007252993/photo/2)
As you can see we have officially broken out of our consolidation period.
Next stop from here would be a double from those lows minimum. Those lows being about $29k. Historically the price has gained 153% on average before it's next pullback.
You do the math to see where that takes us...
Plus the last time we saw this happen, the price more than doubled:
(Source: https://twitter.com/BTC_Archive/status/1357056176446468098/photo/1)
Looking like we about to get a MACD cross on the daily chart that could point to another double from here before a major correction.
Things looking very very good on a number of levels, hope you bought the dip!
Stay informed my friends.
-Doc
Love to see that sell the rip has turned around and we are back buy the dip.
Yep, a refreshing flip for sure.
Great information! I do have a question-
Since the conference was today, most likely 80/90% of those companies and croporations are going to do a teamback to analyze their strategy whether to invest or not, and when... what timeframe do you thinks its going to take them make the decision and execute it? A week? A month? You mentioned it in your narrative, but it would be great if someone gave their 2 cents on this
Thanks again!!!
This quote was from Saylor on that very subject:
So to answer your question, the coming 12 months. I think we will probably see more companies start to trickle in over the coming weeks and months.
Love your insights on what is happening with BTC. Currently strong move to the upside on the daily chart. If BTC can find support at the $35,550 level we could be on to something much higher by the weekend.