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Buying the Bitcoin Dip: MicroStrategy Scoops $10M Worth of BTC Following $7K Daily Crash

Michael Saylor’s MicroStrategy continues to scoop up BTC whenever they seem to get the chance. The company has just bought another $10 million following the most recent price crash.

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Michael Saylor’s Bitcoin bet appears to be far from over as his company MicroStrategy has acquired even more BTC despite the crypto price experiencing a significant retrace over the last couple of days.

  • MicroStrategy has added more Bitcoin to its balance sheet according to an announcement issued on Friday (Jan. 22, 2021).
  • The business intelligence firm has acquired 314 BTC for $10 million increasing its Bitcoin holdings to over 70,784 “coins.”
  • MicroStrategy’s announcement also revealed that it bought its BTC lump at a price of about $31,808 per coin.
  • The company began buying BTC back in August 2020, after making a bitcoin purchase worth $250 million. Since its initial purchase, the company has since been on a bitcoin buying spree, even raising more than $650 million in debt for another BTC purchase.
  • At the time, MicroStrategy CEO Michael Saylor described Bitcoin as a viable hedge against monetary debasement.
  • Since its first Bitcoin purchase announcement, the company’s stock price has risen more than 320%.Indeed, MicroStrategy’s pivot to Bitcoin seemed to trigger a herd of institutional adopters who added the largest crypto by market capitalization to their balance sheets.
  • Other publicly-listed firms including asset managers and insurance companies have also bought Bitcoin. Companies like Ruffer Investment bought about $750 million worth of BTC.
  • As of the time of writing, Bitcoin appears to be recovering from a 30% slump that its price below $30,000 for the first time since Jan. 4.
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Source: https://cryptopotato.com/buying-the-bitcoin-dip-microstrategy-scoops-10m-worth-of-btc-following-7k-daily-crash/

Blockchain

GBA Healthcare Working Group Releases White Paper as First Asset inBlockchain Ethical Design Framework for Healthcare

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WASHINGTON, DC –March 2021

Beginning early 2020, theGovernment Blockchain Association (GBA) Healthcare Working Group (HWG)began undertaking the development of an ethical design framework for blockchain solutions in the healthcare industry as a service to the public. The GBA HWG is releasing the first asset in the Blockchain Ethical Design (BED) Framework for Healthcare in the form of a White Paper.

We are excited to offer this guidance to healthcare policymakers, decision-makers and innovators in implementing blockchain featured technology in the healthcare space. The BED Framework for Healthcareis being developed collaboratively by members in the HWG including caregivers, entrepreneurs, healthcare technologists and legal professionals from around the world. We cover a comprehensive spectrum of use cases, regulatory and legal scenarios, and procedural insights based on real world experience in healthcare technology innovation. This White Paper is only the first asset in a suite of guiding tools the GBA HWG will be releasing through 2021, and we are looking forward to the feedback of our audience.” –Marquis Allen, GBA Healthcare Working Group Chair

The purpose of this publication is to:

  • Identify potential ethical issues of blockchain used in health service delivery
  • Discuss potential ethical issues for stakeholders across the healthcare ecosystem including regulatory and compliance segments
  • Propose a conceptual framework of blockchain ethics as it applies specifically to its design, implementation and use in healthcare.
  • Create an outlinefrom which the Blockchain Ethical Design (BED) Framework for Healthcare and its assets, tools, documents and content will be developed by the GBA HWG.
  • Raise awareness and stimulate further debate on the ethics of blockchain in the healthcare IT,health system governance and regulatory communities.

The GBA invites you to contact them for more information.

Learn more about the GBA: gbaglobal.org

For more information about the GBA Healthcare Working Group: gbaglobal.org/HWG

To download the whitepaper: gbaglobal.org/download

Contact: Kathy Dache @ Kathy.Dache@gbaglobal.org

________________________________________________________________________

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Blockchain

TA: Bitcoin Turns Attractive Above $50K, Why BTC Extend Its Rally

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Bitcoin price gained bullish momentum above the $50,000 resistance against the US Dollar. BTC traded towards $52,000 and it remains supported for more upsides.

  • Bitcoin started a fresh increase above the $50,000 and $50,500 resistance levels.
  • The price is now trading well above $50,000 and the 100 hourly simple moving average.
  • There is a key rising channel forming with support at $50,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct a few points, but the bulls are likely to protect $50,000 and $49,500.

Bitcoin Price Starts Fresh Increase

After a strong close above the $48,000 level, bitcoin started a fresh increase. BTC was able to clear the key $50,000 and $50,500 resistance levels to move into a positive zone.

There was also a break above a major bearish trend line with resistance near $48,400 on the hourly chart of the BTC/USD pair. The pair extended its rise above the $51,000 level and traded to a new weekly high at $51,853.

It is now correcting lower, but it is trading well above $50,000 and the 100 hourly simple moving average. An initial support is near the $50,750 level. It is close to the 23.6% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high.

Bitcoin Price

Source: BTCUSD on TradingView.com

There is also a key rising channel forming with support at $50,500 on the same chart. The next major support is near the $50,000 level. Any more losses may possibly lead the price towards the 50% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high near $49,500. The main support is now forming near the $48,800 level and the 100 hourly simple moving average.

More Upsides in BTC?

If bitcoin stays above $50,500 and $49,500, it could start a fresh increase. An initial resistance on the upside is near the $51,500 level. The first major resistance is near the $52,000 level.

A successful close above the $52,000 resistance level could open the doors for a larger increase in the coming sessions. The next major resistance could be $53,200, followed by $54,500.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $50,500, followed by $50,000.

Major Resistance Levels – $51,500, $52,000 and $53,200.

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Source: https://www.newsbtc.com/analysis/btc/bitcoin-turns-attractive-above-50k/

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Source: https://coingenius.news/ta-bitcoin-turns-attractive-above-50k-why-btc-extend-its-rally/?utm_source=rss&utm_medium=rss&utm_campaign=ta-bitcoin-turns-attractive-above-50k-why-btc-extend-its-rally

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Blockchain

Kraken Daily Market Report for March 07 2021

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Bitcoin price gained bullish momentum above the $50,000 resistance against the US Dollar. BTC traded towards $52,000 and it remains supported for more upsides.

  • Bitcoin started a fresh increase above the $50,000 and $50,500 resistance levels.
  • The price is now trading well above $50,000 and the 100 hourly simple moving average.
  • There is a key rising channel forming with support at $50,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct a few points, but the bulls are likely to protect $50,000 and $49,500.

Bitcoin Price Starts Fresh Increase

After a strong close above the $48,000 level, bitcoin started a fresh increase. BTC was able to clear the key $50,000 and $50,500 resistance levels to move into a positive zone.

There was also a break above a major bearish trend line with resistance near $48,400 on the hourly chart of the BTC/USD pair. The pair extended its rise above the $51,000 level and traded to a new weekly high at $51,853.

It is now correcting lower, but it is trading well above $50,000 and the 100 hourly simple moving average. An initial support is near the $50,750 level. It is close to the 23.6% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high.

Bitcoin Price

Source: BTCUSD on TradingView.com

There is also a key rising channel forming with support at $50,500 on the same chart. The next major support is near the $50,000 level. Any more losses may possibly lead the price towards the 50% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high near $49,500. The main support is now forming near the $48,800 level and the 100 hourly simple moving average.

More Upsides in BTC?

If bitcoin stays above $50,500 and $49,500, it could start a fresh increase. An initial resistance on the upside is near the $51,500 level. The first major resistance is near the $52,000 level.

A successful close above the $52,000 resistance level could open the doors for a larger increase in the coming sessions. The next major resistance could be $53,200, followed by $54,500.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $50,500, followed by $50,000.

Major Resistance Levels – $51,500, $52,000 and $53,200.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
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Source: https://www.newsbtc.com/analysis/btc/bitcoin-turns-attractive-above-50k/

Checkout PrimeXBT
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Source: https://coingenius.news/kraken-daily-market-report-for-march-07-2021/?utm_source=rss&utm_medium=rss&utm_campaign=kraken-daily-market-report-for-march-07-2021

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Blockchain

Crypto Influencer Ben Armstrong Names 4 Cryptoassets That Could Surge in March

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Bitcoin price gained bullish momentum above the $50,000 resistance against the US Dollar. BTC traded towards $52,000 and it remains supported for more upsides.

  • Bitcoin started a fresh increase above the $50,000 and $50,500 resistance levels.
  • The price is now trading well above $50,000 and the 100 hourly simple moving average.
  • There is a key rising channel forming with support at $50,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct a few points, but the bulls are likely to protect $50,000 and $49,500.

Bitcoin Price Starts Fresh Increase

After a strong close above the $48,000 level, bitcoin started a fresh increase. BTC was able to clear the key $50,000 and $50,500 resistance levels to move into a positive zone.

There was also a break above a major bearish trend line with resistance near $48,400 on the hourly chart of the BTC/USD pair. The pair extended its rise above the $51,000 level and traded to a new weekly high at $51,853.

It is now correcting lower, but it is trading well above $50,000 and the 100 hourly simple moving average. An initial support is near the $50,750 level. It is close to the 23.6% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high.

Bitcoin Price

Source: BTCUSD on TradingView.com

There is also a key rising channel forming with support at $50,500 on the same chart. The next major support is near the $50,000 level. Any more losses may possibly lead the price towards the 50% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high near $49,500. The main support is now forming near the $48,800 level and the 100 hourly simple moving average.

More Upsides in BTC?

If bitcoin stays above $50,500 and $49,500, it could start a fresh increase. An initial resistance on the upside is near the $51,500 level. The first major resistance is near the $52,000 level.

A successful close above the $52,000 resistance level could open the doors for a larger increase in the coming sessions. The next major resistance could be $53,200, followed by $54,500.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $50,500, followed by $50,000.

Major Resistance Levels – $51,500, $52,000 and $53,200.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://www.newsbtc.com/analysis/btc/bitcoin-turns-attractive-above-50k/

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://coingenius.news/crypto-influencer-ben-armstrong-names-4-cryptoassets-that-could-surge-in-march/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-influencer-ben-armstrong-names-4-cryptoassets-that-could-surge-in-march

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