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Bitcoin Bear Market Ended and Currently in Accumulation Phase, Galaxy Research Says

By Rupam Roy

Bitcoin price has been stagnant between the $80K and $89K levels over the past 30 days, which has sparked discussions among market participants. However, a recent report from Galaxy Research hinted that BTC is currently in the accumulation phase, while indicating that the bear market for the flagship crypto is over.…

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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.

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Bear 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.

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Cryptocurrency

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.

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