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These 2 Metrics Are Flashing Green for Bitcoin. So Is the Bitcoin Bear Market Finally Over? - AOL
xCruzo Brief
Bitcoin is rebounding after a difficult stretch, and the article points to two indicators that suggest the bear market may be nearing a turnaround. From its October peak to its 52-week low on July 1, BTC fell 53%, but it has since gained 47% as of Sept. 23. One metric highlighted is historical stock-market strength in U.S. midterm years: analysis going back to 1950 shows October and November typically deliver the highest average returns, with the S&P 500 up 13% year to date and averaging gains near 3% and 2.7% in those months. The second indicator is whether Bitcoin trades above its 50-week moving average, which has preceded bear-market lows most of the time.
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