CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

MicroStrategy stock fell 10% after China crackdown

17:14 21 June 2021

MicroStrategy Inc. (MSTR.US) stock plunged more than 10% during today's session after the company confirmed purchase of 13,005  bitcoins priced at $37,617 each for a total of around $489 million. At the moment the company holds approximately 105,000 BTC. However company's stock suffer due to the strong decline in the price of Bitcoin, which was caused by further restrictions related to the mining of cryptocurrencies that were introduced by the Chinese government. Also the People's Bank of China said Monday it had urged Alipay and some major banks to crack down on crypto trading.

MicroStrategy Inc. (MSTR.US) stock launched today's session with a bearish price gap and was not able to return above the 200 SMA ( red line) which now acts as resistance. If the current sentiment prevails, downward move may be extended towards support at $550 which coincides with 50 SMA ( green line) and 61.8 Fibonacci retracement of the entire upward move which started back in March 2020. Source: xStation5

Start investing today or test a free demo

Open account Try demo Download mobile app Download mobile app

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back
Xtb logo

Join over 935 000 investors from around the world