$BTC Grayscale Head of Research Zach Pandl said bitcoin's roughly $58,000 low around June 30 remains his call for the bottom of the current bear-market phase, and that the asset manager is now advising clients to allocate to the asset class.
"We have stuck our neck out over the last couple of months and attempted to call the bottom at 58K at the end of June," Pandl told The Block's Gareth Jenkinson in an interview at Avalanche Summit in New York. "That would still be my view that that was the bottom for this bear market phase.
Bitcoin was trading above $76,000 early Thursday, up 0.8% over 24 hours, according to The Block’s BTC price page. The largest cryptocurrency by market cap remains about 39% below its record high of around $126,000.
"We have stuck our neck out over the last couple of months and attempted to call the bottom at 58K at the end of June," Pandl told The Block's Gareth Jenkinson in an interview at Avalanche Summit in New York. "That would still be my view that that was the bottom for this bear market phase.
Bitcoin was trading above $76,000 early Thursday, up 0.8% over 24 hours, according to The Block’s BTC price page. The largest cryptocurrency by market cap remains about 39% below its record high of around $126,000.
