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Bitcoin and broader crypto markets 'have bottomed,' Bernstein analysts say
Bitcoin (BTC-USD) held above $92,000 per token early on Wednesday as recent momentum sparked optimism that the brutal fourth quarter sell-off may be behind it. 'We believe with reasonable confidence that bitcoin and broader digital asset markets have bottomed," analyst Gautam Chhugani and his team said in a note on Tuesday, pointing to $80,000 in late November as the bottom. Concerns that the October high north of $126,000 marked the peak in a historical four-year cycle for the token are overstated, Bernstein said, as the industry goes through a "digital assets revolution" that extends the bull run.
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