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Crypto Analyst: Bitcoin Breaking Above This Level will Indicate Correction is Complete

The bear market already in motion for over 400 days and still darker days are expected going forward. However, according to one crypto analyst, Bitcoin is expected to “see a sustained rally soon.”

Bear market Expected to Persist Longer

Bitcoin is yet again in the red at $3,465 with 24-hours loss of 0.55 percent. The leading cryptocurrency that has been expected to hit the bottom but bounced back after hitting $3,422, as per the data provided by Coinmarketcap.

However, it doesn’t mean Bitcoin is out of the difficult situation yet as crypto analyst, Murad Mahmudov shared analysis on Twitter stating,

“Why I believe the famous 200-Week Moving Average support from the last bear cycle WILL BREAK during this bear market cycle.”

Right now, the market is in a state of gloom. However, the bear market is expected to persist longer, with this crypto winter already being the lengthiest one in the 10-year history of Bitcoin.

“Bitcoin appears to have stabilized again following a couple of…

Read Full Story : Coingape

2019-02-01 03:00:09

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