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Bitcoin Still Not Out Of Bear Market Territory According To One Investor

Ramsey Baker

Summary: While Bitcoin's recent upturn has many analysts and experts calling it a bull market. According to CCN one investor who goes by the comical name of MagicPoopCannon, has a not so comical revelation for Bitcoin investors. Cannon claims that while he believes Bitcoin will eventually reach bull market territory once again, that in actuality the ...

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While Bitcoin's recent upturn has many analysts and experts calling it a bull market. According to CCN one investor who goes by the comical name of MagicPoopCannon, has a not so comical revelation for Bitcoin investors. Cannon claims that while he believes Bitcoin will eventually reach bull market territory once again, that in actuality the recent surge is merely a bear market rally. The reputable investor with over 62,000 followers predicts that Bitcoin will reach as low as $3,000 and possibly lower by October 2019. The reason for Cannon's claim is that Bitcoin has a linear nature and based on this chart, Bitcoin is yet to reach usual low it reaches, before it's upswing.

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