From the depths of the conventional and digital markets emerge two contenders, a stock (MSTR) and a cryptocurrency (STX), poised to surpass the reigning champion, bitcoin, during the remainder of this bullish season.
Both $STX And $MSTR Could Outperform $BTC
Who would have thought that a cryptocurrency and a stock market giant would make such an unlikely pair? On one side, we have Stacks (STX), a digital currency that offers access to a layer 2 platform built on top of the secure bitcoin base layer.
On the other, we have Microstrategy (MSTR), a powerhouse company with a market value in the billions and the esteemed Michael Saylor at its helm. Despite their differences, these two have the potential to surpass the mighty Bitcoin (BTC) during its uptrend. The theory is simple: if BTC rises, both STX and MSTR have the potential to soar even higher.”
$MSTR Entering Buy Zone?
In a thrilling turn of events, $MSTR has shown its strength against the US dollar with a 43% correction so far. But the excitement doesn’t stop there. If the price continues to climb and hits the support level at $1,078, we could see a whopping 46% correction, making it a remarkable feat in the current bull market.
Against $BTC, $MSTR has proven its resilience by reaching a formidable level of support, as shown on the weekly chart above. This uptrend has been going strong since May 2022, and with the current correction, we could witness a reversal in favor of $MSTR.
$STX Reached Nearly 400% Gains Against $BTC
Take a closer look at $STX, where a fascinating story unfolds. The price against USD has taken a wild ride, plummeting to a low of $2.31, before finding solid ground at the even more resilient support level of $2.06. Coincidentally, this mirrors the jaw-dropping 46% correction that $MSTR experienced.
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The STX/BTC weekly chart above is mesmerizing. It’s a visual representation of the incredible journey $STX has been on since early March. Despite some major dips, $STX has managed to soar over 400% against $BTC. And just when you thought it couldn’t get any better, the price has gracefully retraced to touch and validate the 0.618 fibonacci level.