Bitcoin Trades Near 200-Week Average With 113% Median One-Year Returns, Kraken Economist Says

BTC-2.81%
According to CoinDesk, Kraken Chief Economist Thomas Perfumo said on June 18 that Bitcoin is trading near its 200-week simple moving average, historically a near-perfect entry point for bulls. The 200-week average currently sits at $62,358, with Bitcoin at $63,900. Over the past two weeks, Bitcoin briefly dipped below this level twice but recovered before the weekly close. Perfumo noted that such closes below the average have occurred in only about 10% of trading days since mid-2017. Historical data shows investors buying at this level achieved median returns of 113% over one year and 313% over two years, with a median time to break-even of just two days.
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