Bitcoin and broader crypto markets ‘have bottomed,’ Bernstein analysts say
Bitcoin (BTC-USD) hovered above $91,000 per token on Tuesday as recent momentum sparked optimism that the brutal fourth quarter sell-off may be behind it.
‘We believe with reasonable confidence that Bitcoin and broader digital asset markets have bottomed,” analyst Gautam Chhugani and his team said in a note on Tuesday, pointing to $80,000 in late November as the bottom.
Concerns that the October high north of $126,000 marked the peak in a historical four-year cycle for the token are overstated, Bernstein said, as the industry goes through a “digital assets revolution” that extends the bull run.
Read more: How to navigate a crypto meltdown: ‘Be willing to hold on’
“As we have highlighted earlier, we believe the market…
