Galaxy Asset Management: “Now Is The Time” to Buy Bitcoin

▶Bitcoin Magazine Galaxy Asset Management: “Now Is The Time” to Buy Bitcoin "The bottom is in," says Galaxy's Alex Thorn, explaining why reclaiming the 50-week moving average historically limits Bitc...

"The bottom is in," says Galaxy's Alex Thorn, explaining why reclaiming the 50-week moving average historically limits Bitcoin downside to just 8.4%.

“We believe the bottom is in.” That’s the call from Galaxy’s head of firmwide research, Alex Thorn. Bitcoin closed back above its 50-week moving average the week of September 20 and has kept that trend, and Galaxy notes that the four prior reclaims after 20-plus weeks below never closed more than 8.4% under the reclaim level in the following year. Here’s why the whole call comes down to the 50-week moving average.

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