Is the Bitcoin Bear Market over?

Is The 200-week moving average is an important indicator just to put in perspective the market activity

How big the drawdown is that we’ve seen versus past cycles and

If you look at the 200-week moving average bitcoins only touched it seven times in its history

It touched it when it broke below 22,000 earlier this month and

Historically that’s been a good time to average into bitcoin

The average returns of bitcoin 12 months out after reaching the 200-week moving average is over 200 percent

So historically it’s been a good indicator of capitulation and

A bottoming event though not necessarily predicting or indicating the exact bottom

Because we see times where bitcoin’s price drops dramatically quickly below

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Historically that’s been a good time to average into bitcoin