The rally is unlikely to lead to another bull cycle, according to Bernstein
The largest cryptocurrency recently managed to reclaim the $23,000 level, starting the new year with a bang.
Reversion to the mean is a concept in crypto investing that refers to the tendency of large fluctuations in price or volume to"revert" back to the average after they spike. It is often used by traders looking to profit from temporary market distortions in crowded markets such as those involving cryptocurrencies. According to some market analysts, recent Bitcoin price surges can be attributed in part to this phenomenon.
The investment bank highlighted that Bitcoin has never experienced two consecutive years of negative returns since its inception and recommended being cautious with bearish calls at current market conditions.
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