The Bitcoin (CRYPTO: BTC) downtrend towards $60,000 has several of the industry’s most respected research firms arguing about the key question: is the bottom in and if not, where is the bottom?
Bearish, Balanced Or Bullish?
During a Milk Road podcast on July 5, Bitwise’s Chief Investment Officer Matt Hougan highlighted three recent research reports that reached three different conclusions on Bitcoin’s near-term outlook.
Galaxy Digital took the most bearish stance, arguing Bitcoin has not yet bottomed. Reviewing roughly a dozen historical bottom indicators, the firm found only three had flashed and suggested BTC could fall towards the $40,000 level.
NYDIG adopted a more balanced view.
