Bitcoin BTC

Bitcoin is posting gains as one of its biggest holders recently announced a fresh investment. Does this mean that the bottom is in?

MicroStrategy Gets New Investment

Bitcoin’s market price has seen a significant surge thanks primarily to improved market conditions and optimism over the Federal Reserve’s interest rate policy. However, the market sentiment is also improving due to a major investment in MicroStrategy.

Earlier this week, a securities filing confirmed that Group One Trading – a Chicago-based market maker – has purchased a 13.5% stake in MicroStrategy. The latter, which currently holds about 132,000 BTC, is seen by many as a Bitcoin proxy that allows traders and investors to work around regulatory restrictions to still place bets on the leading cryptocurrency.

Along with the plunge in crypto prices last year, MicroStrategy’s stock fell about 70% throughout the calendar year. However, with Bitcoin now surging this year, MicroStrategy’s stock has risen to 30% year-to-date.

The crypto market plunge led to many questioning MicroStrategy’s solvency the last year. However, with a new investment valued at about $240 million, the Virginia-based business intelligence company should be able to weather any storm in the near term.

BTC Price Action

At press time, the Bitcoin price currently stands at $17,438. The asset is up by 0.96% in the past 24 hours, handily beating the broader market and its 0.28% rise in the same period.

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Bitcoin’s price action has helped to improve its technicals. The leading cryptocurrency trails its short-term moving average (MA) indicators, especially the 10-day MA of $17,441. However, with a lead over its long-term MA indicators, the asset’s technicals continue to improve markedly.

A positive moving average convergence divergence (MACD) shows that Bitcoin is giving off a buy signal. And, with a relative strength index (RSI) of 42.05, it isn’t overbought just yet.

Time to Look Out for New Presales

Bitcoin’s price surge spells good news for the crypto industry, which has been looking to bounce back after a tough year. However, as investors continue to deal with an uncertain future, several new coins present interesting buying opportunities.

Dash 2 Trade (D2T)

A good asset to consider is D2T. The coin powers Dash 2 Trade – a crypto research and analytics platform that hopes to help market investors refine tier moves and trading decisions.

Dash 2 Trade provides several interesting tools, ranging from social trading and signals to a strategy builder and notifications on new coins. The platform also makes it easy for investors to find healthy projects they can back for gains.

D2T, the native token, has completed its presale. On Wednesday, the digital was listed on a number of centralized and decentralized exchanges after raising more than $15 million.

Investors can now claim and trade their D2T tokens on platforms including Gate.io, LBank Exchange, BitMart Exchange, Uniswap, and 1inch.

Fight Out (FGHT)

Investors can also consider FGHT – one of the most revolutionary new coins in the market. FGHT powers Fight Out, a move-to-earn product that allows users to earn rewards for keeping fit and meeting their fitness objectives.

With Fight Out, users can set their fitness objectives as soon as they sign up. They can also include information on their fitness backgrounds, equipment availability, preferred workouts, and other relevant information.

FGHT is an ERC-20 token that powers this ecosystem’s entire operation. It can also be staked, with users earning different perks and discounts as rewards. It is currently available on presale and has thus far raised over $2.8.4 million.

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