Attacks on Michael Saylor Point to Bitcoin Bottom, Experts Say

Michael Saylor and his Strategy company have come under intense attack recently, but it may not be all bad. Experts say the attacks on the Bitcoin bull and his company may be an indication that a Bitcoin bottom is in and a bounce may be in sight.

Bitcoin has struggled to break out of a range it has been held in for months, causing frustration among traders and investors alike. This frustration has been directed at Saylor and his company in the past few weeks.

According to crypto analysis platform Santiment, the attacks show that the pain of the downtrend has gotten to most crypto players, which itself suggests Bitcoin’s downtrend will soon come to an end and a reversal may be close. 

Industry Players Tackle Saylor

Bitcoin has suffered weakness in its price movement in the past few months alongside altcoins. Although there have been several indicators that Bitcoin should be rallying, such indicators have not translated into actual price growth. As a result, investors and traders have directed their frustration at Saylor and Strategy.

One of such attacks came from a veteran trader Peter Brandt, who said Strategy is a fraudulent business built on debt. He also called on the U.S. government to initiate a Bitcoin price crash to $30,000 in order to liquidate Strategy. While there’s no history of rivalry between the two, Brandt seems to be offended by Saylor’s stance of not selling Bitcoin.

Similarly but unsurprisingly, renowned Bitcoin critic Peter Schiff has also called Strategy a fraudulent setup that will crumble regardless of what happens to Bitcoin eventually. He also challenged Saylor to a Bitcoin vs Gold debate in which he argued that tokenized gold was a more reliable investment than Bitcoin.

Is Bitcoin’s Bottom In Yet?

Many crypto analysts have predicted a Bitcoin and crypto bottom in the last few months, but these seem to be false as no significant and lasting change in Bitcoin’s price has been seen. However, investors and traders becoming aware of the pain in the market may actually suggest a reversal is near. 

Experts say the recent spike in Google search for “Bitcoin bear market” is also another indicator that the bear market is getting noticed by retailers, which usually marks a price bounce. 

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