‘Bear Market Ended in June’: Galaxy Digital Says Bitcoin (BTC) Is in Accumulation Phase Before Price Surge
By Conor Devitt
Researchers at the crypto firm Galaxy Digital think the Bitcoin (BTC) bear market ended four months ago. Alex Thorn, Galaxy’s head of firmwide research, says in a new analysis that Bitcoin is currently in “the accumulation phase that has preceded every prior advance.” “On a technical basis, the 200-week moving average…
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Bitcoin
The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.
Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.
More about BitcoinBear market
A period in which market prices fall substantially, commonly defined as a drop of 20 percent or more from a recent high.
Bear markets often signal economic worries and reduce the value of investments.
More about Bear marketCryptocurrency
A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.
Crypto prices are volatile, and governments are still deciding how to regulate it.
More about CryptocurrencyMore in Bitcoin
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