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Michael Saylor Predicts $13M BTC in Bullish Keynote

Michael Saylor, co-founder of MicroStrategy, predicts Bitcoin will reach $13 million per coin by 2045, urging investors to adopt a "triple maxi" Bitcoin strategy.

• Main Points:

  • Bold prediction: Bitcoin to hit $13 million by 2045.

  • Triple maxi strategy: Invest heavily in Bitcoin and relocate to tax-friendly regions.

  • Economic rationale: Bitcoin is a solution to asset entropy.

  • Immortal asset: Bitcoin’s unique position as an enduring digital asset.

• Detailed Insights:

  • Bold prediction: During his keynote speech at the Bitcoin 2024 conference, Michael Saylor raised his Bitcoin price forecast to $13 million per coin by 2045. This upgrades his previous $10 million estimate made in June. Saylor considers this a base case, with potential outcomes ranging from $3 million to $49 million per coin.

  • Triple maxi strategy: Saylor advises investors to become "triple maxi" Bitcoin bulls: finance a house with Bitcoin, convert all assets to Bitcoin, and move to a tax-friendly jurisdiction to maximize investment. He suggests this approach could yield a net worth of $214 million by 2045.

  • Economic rationale: Saylor argues that all physical capital, including stocks, bonds, and real estate, is subject to entropy, which dilutes its value over time. He contrasts this with Bitcoin, which he describes as immune to entropy and thus a superior investment.

  • Immortal asset: According to Saylor, Bitcoin is unique due to its immutability and immaterial nature, giving it an infinite lifespan. He believes Bitcoin offers a solution to economic challenges that physical assets cannot match.

Related: Michael Saylor Responds to Musk's Bitcoin Endorsement

MicroStrategy, one of the largest public holders of Bitcoin, currently holds 226,331 BTC, acquired at an average price of $36,798 per coin. Saylor's bullish outlook emphasizes Bitcoin's potential as an enduring store of value in the face of traditional asset depreciation.

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Why Is Solana (SOL) Rising Today?

Solana's price surged over 6.5% in the past 24 hours, reaching an intraday high of $183, driven by rising network activity and ecosystem recovery.

• Main Points:

  • Ecosystem recovery: Solana-based tokens are gaining traction.

  • Network activity: Increased Total Value Locked (TVL) and transaction volumes.

  • Technical patterns: Bullish cup-and-handle chart formation.

• Detailed Insights:

  • Ecosystem recovery: The recent rise in Solana's price is supported by a broader recovery in Solana-based tokens. Data from CoinMarketCap shows that the total market capitalization of cryptocurrencies on the Solana blockchain increased from $220.93 billion on July 19 to $234.70 billion on July 26. Notable gainers include Jupiter (JUP) and Pyth Network (PYTH), which posted significant daily and weekly gains.

  • Network activity: Solana's price surge is also backed by high network growth. According to DefiLlama, the Total Value Locked (TVL) on Solana jumped over 8.8% in the last seven days, from $4.9 billion to $5.42 billion. Additionally, transaction volumes increased by approximately 19.5% over the past 24 hours, indicating more user engagement and development activity on the blockchain.

  • Technical patterns: From a technical perspective, the SOL/USD pair has been forming a bullish cup-and-handle pattern since May 20. This pattern suggests a potential rally if SOL breaks above the handle's neckline resistance at $186. A decisive daily candlestick close above this level could lead to a price target of $252, representing a 35% increase from current levels.

  • Market sentiment: The increased TVL and high transaction volumes point to growing investor confidence in the Solana ecosystem. The surge in Solana-based tokens and the overall positive sentiment have contributed to SOL's recent price rally.

Related: Solana Soars 17% as Traders Spot Bullish Pennant

Solana's strong network activity and technical bullish patterns indicate the potential for further gains, making it an attractive investment in the current market climate.

Altcoin Season Metric Surges as Bitcoin Dominance Peaks

Altcoins are in the reaccumulation stage, signaling the potential for future gains as Bitcoin dominance peaks.

• Main Points:

  • Reaccumulation stage: Altcoins are stabilizing after a 33% drawdown.

  • Market performance: Altcoins up 58% post-accumulation breakout.

  • Bitcoin dominance: Nearing multi-year high, creating altcoin opportunities.

  • Support levels: Key support reclaimed, indicating potential for a second leg up.

• Detailed Insights:

  • Reaccumulation stage: The altcoin market is currently in a reaccumulation phase following a 33% drop in TOTAL2 (total market capitalization excluding Bitcoin) since March 11. This stage is marked by relative stability, where investors buy on dips, anticipating future price increases.

  • Market performance: Independent crypto trader Mags noted that altcoins have risen 58% since breaking out from a long period of accumulation, suggesting further potential for an upward move. Despite a recent correction, the market shows signs of continued growth.

  • Bitcoin dominance: Bitcoin's market dominance is near a multi-year high at 56.56%, up 3% over the past 90 days. Crypto YouTuber Crypto Rover indicated that Bitcoin's dominance is in its topping region, presenting a good opportunity for altcoin investors to accumulate.

  • Support levels: Independent trader Jelle highlighted that TOTAL3 (market cap excluding Bitcoin and Ether) has reclaimed a key support area between $600 billion and $625 billion. This shift from resistance to support suggests that the market is preparing for the second leg of the cycle, potentially leading to a significant altcoin rally.

  • Market sentiment: Fellow trader Moustache echoed these sentiments, observing that the altcoin market cap is retesting key support areas similar to those seen in early 2023 before a major uptrend. This pattern indicates that altcoins might be on the verge of another substantial upward move.

Related: Bitcoin Rebounds to $67K Ahead of Trump's Nashville Speech

The current market dynamics suggest that altcoins are in a strategic accumulation phase, with Bitcoin's dominance creating a favorable environment for future altcoin gains. Investors are watching closely for signs of the next leg up in the altcoin cycle.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results