MicroStrategy (MSTR) shares have dropped over 15% in the past week, despite the company's substantial cryptocurrency holdings.
Current Situation of MicroStrategy
MicroStrategy, led by Michael Saylor, now holds 629,376 BTC, amounting to approximately $46 billion. This week, they purchased an additional 430 BTC at $119,666 each.
Price Pattern Analysis
Chart patterns reveal both bearish and bullish signals. The head and shoulders formation may indicate a drop to $300 per share, while bullish patterns suggest potential growth to $500.
Future Prospects
Analysts suggest that despite the current decline, there is long-term potential for growth to $500 if Bitcoin moves successfully upwards. Current declines could be seen as consolidation rather than a trend reversal.
Despite the downturn in MicroStrategy's stock, the company's significant Bitcoin reserves and strategic accumulation approach keep future growth prospects open.
