Michael Saylor says Bitcoin is back in a bull market as bank custody gains momentum

Bitcoin has returned to a bull market after rebounding from its 200-week simple moving average, according to Michael Saylor, chairman of Strategy. He said expanding bank custody and lending, along with securities tokenization, could drive prices over the next 12 to 24 months. Speaking in an Altcoin Daily video on Oct. 17, Saylor said Bitcoin bounced off its 200-week simple moving average about three months ago and is now trading at a slight premium, with its long-term price trajectory remaining within expectations. Saylor identified restrictive trade, foreign and monetary policies as the main headwinds for Bitcoin. He said all three have weighed on markets over the past year, while the vast sums flowing into the AI buildout are also competing with crypto for capital.

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