Stack Funds hails Bitcoin’s ‘healthy correction,’ predicts ‘euphoria’ ahead

Cointelegraph

Published Nov 26, 2020 10:09PM ET

Updated Nov 28, 2020 12:00AM ET

Crypto index fund provider Stack Funds has labeled yesterday’s pullback as a “healthy correction” that was needed before Bitcoin continues its upward trajectory.

Bitcoin (BTC) broke through $19,000 earlier this week after posting seven weeks of consecutive gains. According to the firm, the crypto has been at overbought levels since October, further supporting the need for a correction.

Bitcoin’s net unrealized profit/loss. Source: Glassnode

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