Cryptocurrencies
Crypto Hedge Fund Says Bitcoin Has Bottomed Out
- Biggest digital token just breached 200-day moving average
- Fund has only made a handful of market calls over the years
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Bitcoin’s dog days are over, says one of the biggest cryptocurrency hedge funds.
Pantera Capital Management, which has more than $800 million in assets, says $6,500 was the low of this bear market and Bitcoin will stay above that price for the majority of the next year, likely surpassing the previous record of almost $20,000, according to a note sent to investors Thursday.