Knowledge is power, and when it comes to Bitcoin (BTC), this power belongs to those who make the effort to understand it. This idea is gaining importance in the world of cryptocurrency, a point recently underlined by the retired star of the NBA Scottie Pippen. Although he did not invent the expression, Pippen encouraged people to deepen their knowledge of Bitcoin.
In short
- Scottie Pippen encourages to study Bitcoin to grasp its value and potential.
- On-chain activity recently reached record levels, a sign of growing interest.
- Analysts estimate that Bitcoin could reach $ 140,000 according to some graphic models.
Scottie Pippen's call to study Bitcoin
Since leaving the field, Pippen has become more talkative about cryptocurrency. He recently shared a simple, but clear message with his subscribers on X: Study Bitcoin. This advice arrived while the price of Bitcoin fell by almost 2 %, evolving around $ 104,000.
Pippen's involvement in the crypto goes beyond words. He launched “Game 5 Ball” last year, a project that mixes sport and new technologies such as tokenization and blockchain. By this initiative, Pippen widens his inheritance by kissing the digital era, encouraging fans and subscribers to learn more about the crypto universe.
Learn before investing: the example of Michael Saylor
The call for the study of Pippen is in accordance with the long -standing views of Michael Saylor, executive president of Strategy (formerly Microstrategy). Saylor has always advocated that understanding Bitcoin takes time and concentration. Before the company bought bitcoin, Michael Saylor revealed that he had spent more than 100 hours studying it and considered it a digital asset of value, even better than gold.
After about 1,000 hours of research, he was convinced that the BTC was the best digital asset. This is how Strategy started buying Bitcoin in August 2020, using liquidity and then raising funds via convertible securities.
Today, the company holds around 580,955 bitcoins, valued at more than $ 60 billion, by making Bitcoin's largest institutional holder in the world.
Mixed reactions from the Crypto community
Scottie Pippen's suggestion to “study Bitcoin” has aroused various reactions within the Crypto community. Some have rented his advice, recognizing that many people struggle to understand Bitcoin because they do not fully grasp the problems he seeks to solve. They maintain that a good understanding of monetary history and the central bank makes the case of Bitcoin clearer.
Others have been critical, especially in the light of Pippen's Crypto project, $ Ball, a same launched last August. Some commentators believe that influencers must be tackled with caution promoting such currencies when they give investment advice.
The increase in on-chain activity suggests a growing interest
By focusing on data, Bitcoin network activity reveals encouraging signs. The market intelligence platform Santly This week reported strong increases in the wet of Bitcoin's wealth, coinciding with a Bitcoin price flirting just under $ 105,000.
On May 29, more than 556,000 new Bitcoin portfolios were created, a record since December 2023. On June 2, more than 241,000 BTC was moved to the blockchain, marking the most active day since December 2024.
Typically, when the network becomes more active, it means that more people use and are interested in Bitcoin, which can be interpreted as a bull signal.
The price of bitcoin is consolidated, with key levels to monitor
The price of Bitcoin currently oscillates in a rectangle consolidation zone, with a support close to $ 101,250 and a resistance just below $ 110,000. This type of lateral movement often occurs after a sharp increase and can precede either a break or a decline.
For the moment, the price is maintained near the top of the fork, but has not resolutely crossed this level. If Bitcoin clearly exceeds $ 110,000, this could indicate a new bullish movement. On the other hand, a fall under $ 101,250 could predict a deeper correction to come.
Analyst Ash Crypto reported the formation of a 'Cup and Handle' model (cup with handle) on the Bitcoin graph. This scheme includes a rounded background, formed from February to mid-May, followed by a slight drop in late May and early June, drawing the handle. The key level of break is around $ 110,000. If this line is crossed, ASH provides an increase of 25 to 30 %, which would push Bitcoin around $ 140,000. In the same spirit, experts of Bitcoinsensus pointed out that the BTC had already crossed a large bevel descending at right angles on the weekly graphic.
The price has crossed the upper terminal of this bevel and analysts now observe whether the threshold of $ 104,800 is a solid support. If this is the case, they plan that the next target will reach around $ 130,000 and could even climb up to $ 150,000, as suggested by the expert Crypto Peter Brandt.
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