Galaxy Asset Management: “Now Is The Time” to Buy Bitcoin
“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.
DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.
This post Galaxy Asset Management: “Now Is The Time” to Buy Bitcoin first appeared on Bitcoin Magazine and is written by Patrick Green.
Read More[#item_full_content]Bitcoin Magazine
▶ Bitcoin Magazine BTC Hash Ribbon Signal Flipped: Bitcoin Miners Show the Bottom Might Be…
▶ Bitcoin Magazine Bitcoin Price “Climbing the Wall of Worry” – Early Signs of Bull…
▶ Bitcoin Magazine Samara Asset Group CEO: Bitcoin Treasury Companies a “Disservice to Shareholders” A…
HYPE and ZEC led a broad bounce, with every top token in the green hours…
Bitcoin rose above $81,400 as Asian chip stocks rallied, with frog-themed memecoin pepe adding 9%.Read…
Both bitcoin and the S&P 500 have historically produced positive returns in a year after…