PANews, June 18 – According to CoinDesk, Kraken Chief Economist Thomas Perfumo stated that Bitcoin has recently been fluctuating around its 200-week simple moving average, a level that has historically served as a near-perfect entry point for bulls. Over the past two weeks, Bitcoin briefly dipped below this moving average twice but recovered before the weekly close each time. Perfumo noted that since mid-2017, weekly closes below this level have occurred on only about 10% of trading days, making it extremely rare. Historical data shows that investors who bought at this level saw a median return of over 113% over the following year and a median two-year return of 313%, with a median time to breakeven of just two days and a median maximum drawdown of only 9% over the following year. He emphasized that past performance does not guarantee future results, but the historical record suggests Bitcoin often offers significant value at this level. As of press time, Bitcoin was trading at $63,900, slightly above the 200-week moving average of $62,358.