Bitcoin back below $19000. MicroStrategy continues to buy.

The price of Bitcoin Bitcoin Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Read this Term is trading back below the $19000 level today with the price moving to an intraday low of $18777. The current price is at $18933.

Looking at the hourly chart above, the price yesterday and on Sunday reached up to test the 100 hour MA (blue line) and found sellers. It would take a move above that level to tilt the short term bias back to the upside from a technical perspective. Absent that and the sellers remain more in control. The 100 hour MA comes in at $19564 and moving lower.

In Bitcoin news, Microstrategy the largest corporate holder of Bitcoin, announced it bought another 301 bitcoin for $6 million ($19933 price by my math). The company owns 130,000 bitcoin. The cost is approxiamately $3.98 billion with an average price of $30,639.

At the last earnings Earnings A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price Read this Term release, the company announced its founder Michael Saylor will be stepping down from his role as CEO. In the 2nd quarter the company disclosed a $917.8M loss attributed to bitcoin. Saylor remains executive chairman of the company. He is being sued by the DC for alleged tax evasion which he denies (he claims he lives in Florida but the DC says he spent most of his time in the DC area).

The company announced a filing to issue up to $500M in additional stock shares.

“We intend to use the net proceeds from the sale of any class A common stock offered under this prospectus for general corporate purposes, including the acquisition of bitcoin, unless otherwise indicated in the applicable prospectus supplement.”

The stock is trading at $195.02 down -$11.18 or -5.42%. YTD it is down -65.07%.