Crypto finance platform Matrixport stated in its latest market assessment that the recent decline in Bitcoin price does not mean the uptrend is over.
Matrixport: Bitcoin’s Drop May Be Temporary, Rally Not Over Yet
The company emphasized that the 21-week moving average (MA21) indicator, which Bitcoin investors frequently follow, continues to be an important reference point in the current market conditions.
Matrixport included the statement in its published chart that “There is no absolute trading rule that always works in Bitcoin investments,” but underlined that the 21-week moving average is one of the most reliable indicators in understanding long-term trends.
This averaging has helped investors reassess their positions during many volatile periods in the past, the report said.
The company stated that while additional market declines are possible in the short term, this shouldn’t be interpreted as a sign that the Bitcoin rally is over. According to Matrixport, such pullbacks can be seen as a “healthy correction process” for the market.
Finally, the report advised investors to follow simple, time-tested indicators rather than get caught up in short-term price fluctuations. Matrixport noted that institutional investors, in particular, could achieve long-term success with this strategy.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/crypto-finance-platform-matrixport-highlights-bitcoins-21-week-moving-average-here-are-the-details/
