Reuters
Cryptoverse: Holding your breath for a bitcoin bounce
Bitcoin’s slide since May, swamped by economic angst, has knocked it below its 200-week moving average, at around $22,600, as well as its 200-day moving average around $35,500. Valkyrie Investments, for one, says its research is pointing to an upside move – but that it isn’t clear when. “Historically we’ve accumulated (around the 200-week average) for three to six months,” said Josh Olszewicz, Valkyrie’s head of research, referring to a period of sideways trading before a price break upwards.