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Bitcoin has plunged below $85,000, marking a 20% drop from its all-time high of $109,000 in January.
The decline has shaken crypto markets, with major altcoins like BNB, Solana, and Dogecoin falling between 10% and 15%.
Despite the drop, MicroStrategy Chairman Michael Saylor remains unfazed. He has long been a vocal Bitcoin advocate and even joked about selling a kidney.
In December, he dismissed fears about MicroStrategy’s Bitcoin-backed leverage, saying the company wouldn’t be forced to sell even if Bitcoin dropped to $1.
“A lot of people don't really think. They're like, ‘Oh, my God, MicroStrategy is gonna get liquidated on Bitcoin.’ It’s like, well, dude, no,” Saylor said. “Bitcoin could go to $1 a Bitcoin, we’re not getting liquidated. We’re just gonna buy all the Bitcoin.”
While Saylor’s confidence remains unshaken, other analysts are also maintaining a bullish outlook.
Crypto analyst Michaël van de Poppe said that Bitcoin is still in a bull market despite the latest dip. He even predicted that BTC could soar to $250,000 this cycle — a massive 195% increase from current levels.
“I don’t think that the cycle is over. I think it barely started, even the hype on Bitcoin wasn’t anywhere near euphoria,” he said. “I do believe that we’ll see Bitcoin above $200,000-$250,000 this cycle.”
Looking ahead, van de Poppe believes Bitcoin could bounce back strongly in March, but a key level must be reclaimed first.
“Bitcoin reached the sweet spot for entries. I think that, if we’re able to gain back above $88,000-$89,000, that this weekly provides a deep wick and we’ll have a great month into March. Utility coins will outperform.”