Wondering whether this is the best time to stock up on bitcoin? It is, at least according to a recent report by Adamant Capital. The report stated that the currency is in its last stage of the bear market; the accumulation phase. Bitcoin HODLers have begun committing for the long term again. BTC’s fundamentals are gaining momentum, the report stated, both as a disruptive technology and a financial asset.
Adamant Capital, founded by the very influential Tuur Demeester, has published two other similar reports. The first one was far back in 2012, with the second one being in 2015. In both periods, BTC was down at least 80 percent from its previous highs. As we now know, in both times, the currency has fought back to set new records. Currently, it’s 75 percent below its 2017 ATH. A precursor for another record-setting bull run? Adamant Capital believes so.