Undervalued Bitcoin Is in an ‘Accumulation Phase,’ Says Analyst

By CCN: Bitcoin’s gains may not be parabolic, but the price is moving steadily higher. With BTC currently hovering at the $5,300 level, the mood around crypto has improved tremendously. Nonetheless, the bitcoin price continues to trade 75% below its peak. A new report by Adamant Capital suggests that the smart money represented by BTC whales is in an “accumulation” phase. This chapter reflects the “last phase of the bear market.” The firm, which runs a bitcoin alpha fund, is advising value investors that now’s the time to buy. Once the BTC bulls solidify their grip, the bitcoin price is The post Undervalued Bitcoin Is in an ‘Accumulation Phase,’ Says Analyst appeared first on CCN