ByteTree Asset Management raised its market signal for Bitcoin from neutral to bullish as the asset becomes a safe haven in US stock and bond trading.
The company's founder and investment director, Charlie Morris, noted that during the last correction, the first cryptocurrency remained above the key level of $25,000. From May 2022 to March 2023, it acted as a resistance level.
“If we can hold $25,000, which we probably will, Bitcoin will be in a bull market, albeit an inactive one,” he suggested.
The company's founder and investment director, Charlie Morris, noted that during the last correction, the first cryptocurrency remained above the key level of $25,000. From May 2022 to March 2023, it acted as a resistance level.
“If we can hold $25,000, which we probably will, Bitcoin will be in a bull market, albeit an inactive one,” he suggested.