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Michael Saylor Issues Bullish BTC Call as Bitcoin Price Hits $72,000

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Mon, 8/04/2024 - 12:21
Michael Saylor Issues Bullish BTC Call as Bitcoin Price Hits $72,000
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Bitcoin, the first and largest cryptocurrency by market value, extended its recovery from the weekend to surpass $72,000. This remarkable rebound is more than just a figure; it is a monument to the unwavering trust of its supporters, among whom MicroStrategy Chairman Michael Saylor is a strong advocate.

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In a recent tweet, Michael Saylor urges Bitcoin to "ascend."  Saylor has long been a bullish figure in the crypto community, and his recent call for Bitcoin to "ascend" seems to have coincided with the crypto currency's latest surge.

Bitcoin's price has increased steadily since reaching a low of $64,500 on April 3. The bullish momentum has catapulted Bitcoin, with the price topping $72,000, reigniting hope among investors and enthusiasts alike.

Bitcoin regains $72,000

U.S. crypto-related equities appeared to start the week on a high note after Bitcoin (BTC) surpassed $72,000 for the first time since mid-March as its reward-halving date approached.

The halving, which reduces the amount Bitcoin miners get in exchange for contributing blocks to the blockchain by 50%, is scheduled for April 20. After that, Bitcoin miners will be rewarded with 3.125 BTC per block.

BTC is up 2.52% in the last 24 hours to $72,313 after reaching an intraday high of $72,624 — its highest since April 1.

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Bitcoin dropped in the first two days of April after U.S. job growth exceeded estimates in March, with Bitcoin dropping to start the quarter.

Bitcoin kicked off trading in April at about $71,291, before data showed manufacturing sector growth for the first time since September 2022 and investor bets on June rate cuts began to fade. The flagship cryptocurrency subsequently fell to as low as $64,500 before rebounding.

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