Major Bullish Bitcoin Statement Made by Max Keiser – ‘Hard Floor and No Top’

Bitcoin maximalist and financial journalist Max Keiser has issued a bullish statement on Bitcoin, referring to a massive Bitcoin purchase made by MicroStrategy today.

Keiser referred to this as “Bitcoin’s PPT” striking again. The first case of this “PPT striking” was reported by Keiser earlier today.

‘Bitcoin Plunge Protection Team’ strikes

Max Keiser cited the tweet of BTC evangelist Michael Saylor who spread the word today about his company MicroStrategy taking another step into the Bitcoin realm and bringing a new big BTC lump from there into its cold wallets.

The news of MicroStrategy purchasing another big Bitcoin chunk made ripples within the cryptocurrency community earlier today – another 9,245 BTC were scooped up for approximately $623 million using the proceeds from convertible note offering made recently and excess cash. The price at which the BTC was purchased equalled approximately $67,382. As of March 18, the business intelligence behemoth founded by Saylor holds 214,246 BTC evaluated at roughly $7.53 billion.

“Bitcoin’s PPT (Plunge Protection Team) strikes again. The BTC price has a hard floor and no top,” Keiser commented on that.

#Bitcoin’s PPT (Plunge Protection Team) strikes again.

The BTC price has a hard floor and no top. https://t.co/DeVqnHOM4h

— Max Keiser (@maxkeiser) March 19, 2024

In an earlier tweet today, Keiser again mentioned a “strike” made by Bitcoin PPT, when he retweeted the news about a Japanese government pension investment fund with $1.4 trillion assets under management looking into purchasing Bitcoin as part of its investment strategy.

Bitcoin price keeps rebounding

Today, the flagship cryptocurrency has demonstrated a major 7% decline, dropping from $67,580 to the $62,912 price line. Since Thursday last week, this is just a part of a much bigger BTC rebound of almost 15% when Bitcoin began to pull back from the new all-time high of $73,750.

Earlier today, the founder of Capriole Investments fund and cryptocurrency analyst Charles Edwards published a tweet about Bitcoin corrections that the market is likely to face in the near future.

Edwards shared that a normal Bitcoin bullrun pillback constitutes 30%. In December, he pointed, out Bitcoin already was “in the longest winning streak in history.” If a pullback of 20% takes place, Bitcoin will drop to hit $59,000. And a pullback of 30% would land BTC back on the $51,000 level. So these price marks, per Edwards, investors and traders “should be comfortable expecting as possibilities.”

A normal Bitcoin bullrun pullback is 30%. Back in December, we were already in the longest winning streak in Bitcoin’s history. A 20% pullback here takes us to $59K. A 30% pullback would be $51K. These are all levels we should be comfortable expecting as possibilities.

— Charles Edwards (@caprioleio) March 19, 2024

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