Technical analysis by bluepipsofforex about Symbol BTC: Sell recommendation (10/21/2023)

BTCUSD BTCUSD n that time, Bitcoin has soared by 147%. The premier coin dwarfed its closest competitor, the S&P 500, which tracks the performance of 500 stocks trading on U.S. stock exchanges. Since August to date, the S&P 500 has managed 26% growth. The tech stock-heavy Nasdaq Composite comes next in line, boasting of 18% growth since August 2020 compared to Bitcoin's 147%. Bitcoin is often touted as a viable , and it is often labeled digital gold, accounting for one of the reasons why MicroStrategy is all out on it. Physical gold has nosedived by 3% compared to Bitcoin's performance, while silver and bonds have slumped by 19% and 24%, respectively. Judging by the outlook of the comparative alternatives, Saylor declared his verdict, noting that "Bitcoin is stronger." MicroStrategy inspiration MicroStrategy remains the most consistent Wall Street firm with a bullish position on Bitcoin. The firm has not relented on its Bitcoin acquisition since August 2020, and recently, the company up another 5,445 BTC units. This recent acquisition was worth $147.3 million, and it takes the company's total holdings to 158,245 BTC acquired for approximately $4.68 billion. While MicroStrategy's overall holdings might not be profitable at the moment owing to the average price of the asset, that Bitcoin has outperformed other potential assets justifies its investment overall.