Grayscale estimates $58K in Bitcoin at the bottom of the current bear cycle
The head of research at investment firm Grayscale, Zak Pandl, believes Bitcoin’s decline to $58K at the end of June marked the minimum of the current bearish phase. He said that Grayscale is now giving its clients a “green light” to invest in crypto assets, as reported in an interview with The Block.
When assessing the market, the company considers three factors: the long-term trend, the stage of the market cycle, and the macroeconomic situation. Pandl stated that all three factors currently meet the conditions for investing.
In early July, Bitcoin fell below $58K and has since recovered by more than 30%.
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The head of research at investment firm Grayscale, Zak Pandl, believes Bitcoin’s decline to $58K at the end of June marked the minimum of the current bearish phase. He said that Grayscale is now giving its clients a “green light” to invest in crypto assets, as reported in an interview with The Block.
When assessing the market, the company considers three factors: the long-term trend, the stage of the market cycle, and the macroeconomic situation. Pandl stated that all three factors currently meet the conditions for investing.
In early July, Bitcoin fell below $58K and has since recovered by more than 30%.
▪ Join RBC Crypto. Forum | Follow the crypto market in the RBC app for iOS and Android
