Breaking Microstratgy Acquired 1045 BTC

On Wednesday, business intelligence firm MicroStrategy announced that it had bought an additional 1,045 Bitcoins for a total purchase price of roughly $29.3 million.

According to a recent filing with the United States Securities and Exchange Commission (SEC), the new acquisition was made between March 24 and April 4 at an average price of $28,016 per coin.

This most recent haul brings the company's Bitcoin vault to an astounding 140,000 coins.

Those coins were acquired at an aggregate purchase price of approximately $4.17 billion. The company's average purchase price now stands at $29,803 per Bitcoin.

The bellwether cryptocurrency is currently trading at $28,564 on the Bitstamp exchange, which means that MicroStrategy is yet to break even after facing massive losses in 2022 due to the bear market.

As reported by U.Today, the company also announced a $150 million Bitcoin purchase in late March.

MicroStrategy has been a key player in the corporate adoption of the flagship cryptocurrency, with its initial investment in the cryptocurrency in August 2020.

Since then, the company has continued to expand its Bitcoin holdings, making it the largest corporate holder of digital assets.

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What is the metaverse?

The metaverse is a concept of connected, virtual universes that are explorable via 3D avatars. You can think of it as the next evolution of the Internet, with more immersive and interactive online experiences.The metaverse incorporates technologies such as augmented reality (AR), virtual reality (VR), and blockchain. While AR enables users to morph digital visual elements into the real world using a camera, VR produces computer-generated virtual environments that users explore through VR headsets. Meanwhile, blockchain technology enables properties of digital proof of ownership, digital collectability, and transfer of value.What can be done in the metaverse?The metaverse creates shared virtual spaces that combine the physical and digital. For example, businesses could start using the metaverse for hosting mixed reality meetings using VR headsets or signing contracts without being physically in the same place.Similarly, you could do groceries by interacting with virtual aisles, showcase your NFT collections to virtual buddies, and visit art exhibitions without leaving the cozy of your home.Play-to-earn games like Axie Infinity and work socialization tools like Gather town already prove working aspects of the virtual worlds possible. They invite users to have fun, meet people, transact using digital currencies, and even earn a living.Decentraland, on the other hand, is an online, digital world that successfully mixes social elements with cryptocurrencies and NFTs, representing anything from cosmetic collectibles to virtual real estate. For example, a player can use Decentraland's native cryptocurrency, MANA, to purchase 16x16 meter land parcels that are issued as NFTs (non-fungible tokens) on the Ethereum blockchain.Is there just one metaverse?The metaverse concept suggests that there is one common and shared virtual ground that everybody shares. But, as we have seen, there can be various metaverses that are separate from each other.Therefore each metaverse has a specific function in the collective of metaverses. In the same way, as each social media platform provides specific services to its users, metaverses offer distinct virtual possibilities. Likewise to earlier examples, one metaverse could concentrate on gaming while others on meetups or concerts.Crypto metaverse projects like Axie Infinity, Decentraland, and SecondLive each have their unique approach to building metaverse. In addition to blockchain-based metaverses, big tech is moving forward with the metaverse narrative. For example, Facebook changed its name to Meta and invested billions of dollars in developing metaverse content, software, and AR and VR headsets. Likewise, big companies like Microsoft, Google, and Tencent are building metaverse and are entering the space by developing new technologies.In the long run, we may see various metaverses with different purposes becoming part of a single metaverse. Creating a web of different metaverses could also encourage further adoption.

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Double Bottom

A double bottom chart pattern indicates a period of selling, causing an asset’s price to drop below a level of support. It will then rise to a level of resistance, before dropping again. Finally, the trend will reverse and begin an upward motion as the market becomes more bullish.A double bottom is a bullish reversal pattern, because it signifies the end of a downtrend and a shift towards an uptrend.

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Triple Bottom Reversal

The triple bottom reversal pattern has three roughly equal lows and indicates an opportunity to take a bullish position. Before the triple bottom occurs, the bears are usually in control of the market, forming a prolonged downtrend. The first bottom does not indicate anything out of the ordinary. Still, the second and third bottoms show a change in direction where buyers (bulls) may push the price action higher after the price breaks through the resistance.

As with other reversal patterns, there should be an existing trend – a current downward trend in this case. The three bottoms should be nearly equal in size and have sufficient space between them. There should be a clear indication of a drop in volume leading into the pattern and an increase in volume on the advance and at the resistance break. Finally, the price should break through the resistance level, which is at the highest point of the highs present between the bottoms.

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What is trading volume?

Crypto trading volume measures how many times a coin changes hands over a given time frame.

Volume is an extremely important indicator for traders to determine the future profitability of cryptocurrencies. Volume can show the direction and movement of the cryptocurrency as well as a prediction of future price and its demand.

A greater volume of cryptocurrency transactions leads to fair cryptocurrency prices and removes the chance of distorted pricing.

A low cryptocurrency exchange volume signals inefficient or low trades, as the asking prices of sellers fail to meet the bids of potential buyers.

Higher volume tends to translate to higher price stability and less volatility. Of course, times of extreme fear or greed might bring surges in volume and large price movements. But, in general, coins or assets that consistently have higher volume tend to have less volatility.

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Cup and Handle

The cup and handle pattern is a bullish continuation pattern that is used to show a period of bearish market sentiment before the overall trend finally continues in a bullish motion. The cup appears similar to a rounding bottom chart pattern, and the handle is similar to a wedge pattern.

Following the rounding bottom, the price of an asset will likely enter a temporary retracement, which is known as the handle because this retracement is confined to two parallel lines on the price graph. The asset will eventually reverse out of the handle and continue with the overall bullish trend.

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Double Top

A double top is chart pattern that traders use to highlight trend reversals. Typically, an asset’s price will experience a peak, before retracing back to a level of support. It will then climb up once more before reversing back more permanently against the prevailing trend.

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Descending Triangle

A descending triangle signifies a bearish continuation of a downtrend. Typically, a trader will enter a short position during a descending triangle – possibly with CFDs – in an attempt to profit from a falling market.Descending triangles generally shift lower and break through the support because they are indicative of a market dominated by sellers, meaning that successively lower peaks are likely to be prevalent and unlikely to reverse.Descending triangles can be identified from a horizontal line of support and a downward-sloping line of resistance. Eventually, the trend will break through the support and the downtrend will continue.

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Ascending Triangle

The ascending triangle is a bullish continuation pattern which signifies the continuation of an uptrend. Ascending triangles can be drawn onto charts by placing a horizontal line along the swing highs – the resistance – and then drawing an ascending trend line along the swing lows – the support.

Ascending triangles often have two or more identical peak highs which allow for the horizontal line to be drawn. The trend line signifies the overall uptrend of the pattern, while the horizontal line indicates the historic level of resistance for that particular asset.

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Head and Shoulders

Head and shoulders is a chart pattern in which a large peak has a slightly smaller peak on either side of it. Traders look at head and shoulders patterns to predict a bullish-to-bearish reversal.Typically, the first and third peak will be smaller than the second, but they will all fall back to the same level of support, otherwise known as the ‘neckline’. Once the third peak has fallen back to the level of support, it is likely that it will breakout into a bearish downtrend.

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What is OCO order?

An OCO, or “One Cancels the Other” order allows you to place two orders at the same time. It combines a limit order, with a stop-limit order, but only one of the two can be executed.In other words, as soon as one of the orders get partially or fully filled, the remaining one will be canceled automatically. Note that manually canceling one of the orders will also cancel the other one.The OCO feature is a simple but powerful tool, which allows you and other Binance users to trade in a more secure and versatile way. This special type of order can be useful for locking profits, limiting risks, and even for entering and exiting positions.Important terms in OCO order.

Limit orderPrice:

The price of your limit order. This order will be visible on the order book.

Stop-LimitStop:

The price at which your stop-limit order will be triggered (e.g., $300).Limit: The actual price of your limit order after the stop is triggered (e.g., $290).Amount: The size of your order (e.g., 5 BNB).Total: The total value of your order (total cost).

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Three Black Crows

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Three black crows

The three black crows candlestick pattern comprises of three consecutive long red candles with short or non-existent wicks. Each session opens at a similar price to the previous day, but selling pressures push the price lower and lower with each close.

Traders interpret this pattern as the start of a bearish downtrend, as the sellers have overtaken the buyers during three successive trading days.

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Bear Flag

A bear flag will look like an inverted bull flag.In a downtrend a bear flag will highlight a slow consolidation higher after an aggressive move lower. This suggests more selling enthusiasm on the move down than on the move up.Traders of a bear flag might wait for the price to break below the support of the consolidation to find short entry into the market.

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Bull Flag

A flag pattern is highlighted from a strong directional move, followed by a slow counter trend move. The above chart highlights a bull flag.The strong directional move up is known as the ‘flagpole’, while the slow counter trend move lower is what is referred to as the ‘flag’.Traders of a bull flag might wait for the price to break above the resistance of the consolidation to find long entry into the market.

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Rising Wedge

A rising wedge is represented by a trend line caught between two upwardly slanted lines of support and resistance. In this case the line of support is steeper than the resistance line. This pattern generally signals that an asset’s price will eventually decline more permanently – which is demonstrated when it breaks through the support level.

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Dark Cloud Cover

The dark cloud cover candlestick pattern indicates a bearish reversal – a black cloud over the previous day’s optimism. It comprises two candlesticks: a red candlestick which opens above the previous green body, and closes below its midpoint.It signals that the bears have taken over the session, pushing the price sharply lower. If the wicks of the candles are short it suggests that the downtrend was extremely decisive.

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