Popular cryptocurrency analyst Willy Wu believes that despite the “high level of fear” in the digital asset market, it is too early to talk about the predominance of “bear investors”.
Willy Woo said on his Twitter that the demand for bitcoin remains high – despite the depreciation of the first cryptocurrency. Long-term investors are in no hurry to sell their holdings, so now is a good time to buy BTC:
I guess BTC is in demand lately pic.twitter.com/5h1IeMT2lK
— Willy Woo (@woonomic) January 29, 2022
“Structurally, according to the blockchain, the market does not look bearish. Although the level of fear among investors is extremely high. Yes, people are afraid, but usually this is just an opportunity to buy bitcoins,” Wu said.
According to the analyst, the course BTC unlikely to drop to $20,000. That would be too fast, and bull investors haven’t lost momentum so far. Such a fall can indeed confirm the transition to a bearish trend in the market and a long phase of asset accumulation, the analyst argues. But Wu is sure that the market has not been in the growth phase for such a long time.
“In terms of human acceptance, bitcoin is at the same level as the Internet was in 1997. But bitcoin is growing faster. In four years, the number of owners of BTC will reach a billion, while it took the Internet eight years.” is talking Willie Wu.
The long-term outlook, from the point of view of the analyst, looks extremely positive for the first cryptocurrency. Along with the adoption of BTC, the exchange rate will also grow, because the number of digital coins is limited.
Formerly Willy Wu saidthat the depreciation of bitcoin in December last year was due to the closing of transactions by traders in the futures markets.
Source: Bits
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