Why Coinbase research says bear market’s got crypto in its claws – DL News
- Bitcoin has fallen over 20% since its January record.
- Coinbase says that’s one sign that crypto is now in a bear market.
A bear market is upon us.
Well, at least if you look at crypto markets through traditional tools, David Duong, Coinbase’s global head of research, argued in a Wednesday blog post.
The 200-Day Moving Average model on Bitcoin “signals potential bearish long-term trends in the overall market,” Duong wrote, referring to a metric that measures the previous 200 days of closing prices and averages them out as a way to filter out short-term noise and fluctuations and underscore long-term trends.
The post comes three months after Donald Trump was inaugurated as the 47th president of the United States.
Crypto market watchers…
