Popular cryptocurrency analyst Willy Woo is waiting for the final explosive growth of bitcoin in the current cycle and believes that selling bitcoins now would be extremely imprudent.
Wu said that this year we will see the final stage of the explosive growth of the first cryptocurrency, which will be the last for a three-year “bullish cycle”. Now the bitcoin rate is at a local bottom and there is no point in selling your BTC reserves – on the contrary, now is a good time to gain a position.
“You have to be crazy to sell right now. At the bottom, they are now buying off in huge volumes and we know that, as Rick Astley sings, we will not be let down, ”the analyst jokingly noted.
In support of his statement that Bitcoin is unlikely to decline in the near future, Wu recalled the large-scale transfers of BTC from the Coinbase cryptocurrency exchange to cold wallets – this suggests that the “whales” are being purchased and are waiting for the growth of the first cryptocurrency.
“Maybe a large company is buying, or a private hedge fund, or several such organizations. But this suggests that large-scale purchases of coins are taking place on Coinbase, and this exchange is popular among American financial institutions, “the analyst noted.
Wu believes that 2021 will be the final year for the current bull cycle. Usually, it is at the end of the cycle that the most significant asset growth occurs. Earlier, the analyst noted that up to 100,000 new customers are registered on cryptocurrency exchanges every day, which is also a positive signal for Bitcoin.
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