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Bitcoin pundits split over BTC floor as Bloomberg analyst eyes bounce -Breaking


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(BTCAlthough the price of ) may still be below $30,000, some notable sources already believe that the bearish trend is over.

Mike McGlone (senior commodity strategist, Bloomberg Intelligence) tweeted his opinion on January 25, 2015. Eyed Bitcoin’s position relative to its 20-week moving average, noting that historically, current levels have marked a turning point.

Bitcoin’s 20-week moving mean ratio vs. the BTC/USD chart. Source: Mike McGlone/Twitter
Bitcoin negative funding rate count vs. BTC/USD chart. Source: Material Scientist/Twitter