Bitcoin’s Bear Market Is Over, Galaxy Says

Galaxy Research says that bitcoin’s bear market ended at the June low, citing a reclaimed 50-week moving average, an exodus of hedge-fund and basis-trade sellers, rising U.S. debt, and a “blockchain, not bitcoin” sentiment shift that marked the bottom in two prior cycles. Galaxy Research believes bitcoin’s bear market ended in June and that the asset has entered an accumulation phase, according to a research alert from the firm. “We believe now is an attractive time to buy and hold bitcoin,” the report said.

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Source: Bitcoin Magazine