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Bitcoin Retests $97,000, Michael Saylor Reacts: ‘Bitcoin Is Forever’
This time, in his tweet, Strategy’s boss and cofounder, Saylor, metaphorically likened Bitcoin to other assets on the market, stressing BTC’s dominance and resilience compared to other investment tools. Meanwhile, Bitcoin rose to surpass the $97,200 level today, but a rebound pushed it back below $97,000 after that. On Thursday, it also attempted to regain this important price level. Now, BTC is changing hands at $96,898.
"Tulip season ends, Bitcoin is forever"
Traditionally, Saylor has published images of himself, surrounded Bitcoin symbolism, generated by AI. In today's image, the Bitcoin bull is referring to the Tulip Mania in the Netherlands in the 1630s. Back then, the price of tulips surged as high as 1,000 guilders per bulb before collapsing in 1637.
In the picture, Saylor is dressed like a Dutch merchant with a tulip field in the background and is holding a chest of Bitcoin (drawn as physical coins). The caption to the tweet highlights Bitcoin’s excellence over tulips and all other assets out there: “Tulip season ends. Bitcoin is forever.”
Peter Brandt predicts Bitcoin to $125,000 in September
Earlier this week, old-school commodity trader Peter Brandt published a tweet to share a bullish Bitcoin price prediction. The expert trader believes that, by the end of this year, the world’s leading cryptocurrency may reach $125,000-$150,000.
On the chart published by Brandt, Bitcoin is in the parabolic arc pattern, which often indicates rapid price changes followed by large-scale corrections. Brandt said that BTC needs to regain the broken parabolic slope. In that case, it may skyrocket to the range between $125,000 and $150,000 by August or September. But that surge is to be followed by a 50% correction, he added.
The chart he shared shows that this pattern has played out several times in the past – in 2017 and 2021, when Bitcoin reached new historic price peaks but then went down in a massive correction every time.