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Well-known bitcoin bear closes his “epic short” in expectation of market trend reversal

It is often very difficult to catch the cryptocurrency market trend reversal. When it comes to BTC price, the market behavior may be quite unpredictable with opposite trends rolling into one another. But today, one somewhat clear indicator of a possible turnaround in the crypto market emerged with a renowned bitcoin bear Mark Dow closing his “epic short”.

Mark Dow is a hedge fund manager and active BTC trader who is known for his love of playing short. He tweeted today that he is closing his “epic short”:

It should be noted, however, that Dow had never voiced his expectations concerning a new bull run. There are many potential factors which can easily influence the bitcoin price for better or worse. Although conducting thorough technical analysis will usually give traders and speculators a basic idea of what is yet to come, there are always times when even those people are taken by surprise completely.