Galaxy's Alex Thorn, Head of Firmwide Research, Says Bitcoin (BTC) Bottom Is In
Photo: TokenPost
Bitcoin (BTC) has remained above its 50-week moving average since its weekly close moved back over the benchmark in the week of Sept. 20. Alex Thorn, Galaxy's head of firmwide research, said, “We believe the bottom is in.” Galaxy identified four previous times Bitcoin moved above the average after at least 20 weeks below it. In none of those cases did Bitcoin close more than 8.4% below the reclaim level during the next year. The view follows Galaxy's earlier assessment that Bitcoin's bear market ended in June . Enna Lee reports on investing and digital-asset markets for TokenPost.
Source: TokenPost
