Investors in the cryptocurrency market are always searching for signs of something about to either spark a bullish run for coins or create sustainable stability. The market, after all, is fairly used to volatility and sudden downturns in price. The recent Bitcoin (BTC) investment by the business intelligence software company MicroStrategy could be just that. It prompts both a renewal of market confidence for crypto investors and points to a possible Bitcoin price surge if its policy of Bitcoin accumulation signals the health of a strong market to investors. What does this say about the state of the crypto market and could this help a presale crypto asset like Dogetti (DETI)?
What Is MicroStrategy And What Has It Been Doing?
Firstly, what is MicroStrategy? It’s an enterprise data warehouse analytics and reporting tool. It essentially generates reports that are useful and acts as business intelligence software that provides solutions for individuals and enterprises.
Recently, MicroStrategy has begun buying a lot of Bitcoin. This has caused its stock to surge whilst also prompting a Bitcoin price surge. According to a filing with the U.S Securities and Exchange Commission, MicroStrategy, which has built up considerable Bitcoin accumulation, prepaid the remainder of its $205m loan from the now-defunct Silvergate Capital, a crypto-focused bank, whilst also revealing that it had purchased another 6,455 BTC tokens for around $150 million across the past five weeks, roughly worth $23,238 per coin.
This acquisition has now left MicroStrategy with a total of 138,955 BTC tokens and around the current BTC price of $28,472. These holdings are valued at around $3,95bn.
What Does This Mean For Bitcoin And Wider Cryptocurrency Market?
The considerable amount of Bitcoin investment from MicroStrategy could prompt a bullish surge in market prices in due time. As mentioned above, investors are always searching for signs that there is confidence in the cryptocurrency market. Right now, the market has been reeling from successive events that have triggered market volatility. This can dissuade investors from purchasing tokens if their value is in a freefall as they would be reluctant to invest in a diminishing asset.
But, the noticeable Bitcoin accumulation can revive confidence in the rest of the market and push trading prices upwards. Why? It’s because it sends a message out to investors that the cryptocurrency market is regarded as a profitable investment for businesses. This in turn can inflame investors’ confidence in the cryptocurrency market.
Can A Presale Like Dogetti Benefit From This?
Presale coins are very dependent on bullishness or confident investors more than any other coins. This is because presales are the period in which new cryptos amass support for their platforms and grow their names. It’s generally accepted that today’s biggest coins are those that had successful presale ventures.
This is why, for a presale coin such as the meme-based crypto Dogetti (DETI), investors must be feeling bullish about the market. This makes it more likely for them to invest in its tokens and ensure that it generates the sales it sets out to reach during its presales.
Currently, Dogetti (DETI) is in the very immediate phases of its presales and is looking to generate $4,000,000 in sales before it moves on to the next stage of its presale. It stands to reason that it would struggle to draw investors if there was a collapse in faith in the cryptocurrency market. Maintaining wide support in the cryptocurrency market is important because as a decentralised community-driven crypto, Dogetti (DETI) is almost entirely dependent on the backing of its supporters, referring to them as part of its family.
Dogetti (DETI)
Presale: https://dogetti.io/how-to-buy
Website: https://dogetti.io/
Telegram: https://t.me/Dogetti
Twitter: https://twitter.com/_Dogetti_
