Funding
Galaxy Asset Management Recommends Buying Bitcoin
Galaxy Asset Management, led by Alex Thorn, recommends buying Bitcoin due to the historical trend of Bitcoin closing above its 50-week moving average, which historically limits Bitcoin's downside to just 8.4% in the following year. The company notes that Bitcoin has maintained its position above the 50-week moving average since September 20, and the four prior reclaims after being below the moving average for 20-plus weeks never closed more than 8.4% under the reclaim level in the following year.