•Bitcoin (BTC) price rose to $23,4K after a recent downtrend.
•The bulls are protecting the present support levels of $22,800 and $22,400.
•Microstrategy Incurs a $1.3 Billion Paper Loss Despite Its Refusal 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. BTC/USD fell to a low of $22,620 on February 6 as investors purchased the dips. At the time of writing, the price of one Bitcoin is $23,218.00. The biggest cryptocurrency would drop below its last bottom at $21,200 if bears break below the crucial support levels but as long as Bitcoin maintains its position above key support levels, it is likely to continue moving upward.
Key Statistics
Bitcoin Price Statistics Data:
•Bitcoin price now – $23,218.82
•Bitcoin market cap – $447,716,375,906
•Bitcoin circulating supply – 19,284,550 BTC
•Bitcoin total supply – $487,521,831,213
•Bitcoin Coinmarketcap ranking – # 1
Resistance and Support Levels
Resistance Levels:$50K$, 55K$, 60K$Support Levels:$25K$, 20K$, 15K$
Bulls Protecting Support Levels
Buyers were able to hold above the support level of 22 K 800 and end the negative trend run .Yesterday ,the price surge led BTC up to 23350 before being stopped .This high provides resistance for further upward movement .A rebound back above 24 K will be expected if bullish momentum is maintained .
MicroStrategy’s Loss
Microstrategy Incurs a loss on its first-ever bitcoin sale last Quarter but stated it was done in order to generate tax loss .Despite having over 1 billion dollars paper loss on their bitcoin assets ,the software analytics company refused to stop trading Bitcoin .