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Add as a preferred source on GoogleBitcoin Holds Above 50-Week Average for Six Straight Weeks
BTC stood 5% above the indicator as BMTV analyst Sean Hagan described the streak as evidence of an early bull-market phase.
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Bitcoin (BTC) remained above its 50-week moving average for six straight weeks and stood 5% above the indicator, a stretch BMTV analyst Sean Hagan views as evidence of an early bull market.
The six-week mark extends an earlier five-week run above the same measure through Oct. 18. Hagan said in a video posted Tuesday, “It is our belief that this is evidence that we are in the early innings of a bull market.”
Bitcoin traded at $80,561, up 0.83% over 24 hours, as of 19:37 UTC (3:37 p.m. ET).
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.