The current rate of Bitcoin is around $ 10,890 per coin. According to the popular analyst Willy Woo, the basics of BTC indicate that it is currently in to the moon mode!
Early BTC to the moon?
This assumption was made by a well-known analyst and investor - Willy Woo. He stated that the very basics of Bitcoin indicate that it is in an bullish mode, but the market has not woken up enough to notice it. In his opinion, a greater commotion may not occur until next year.
While the chain indicators themselves may look bullish, investors do not seem to respond to them yet. According to Willy Woo, this is an amazing opportunity to purchase this cryptocurrency before the next gains.
This statement sparked an avalanche of comments, including some unfavorable ones. The analyst, however, recalled a situation from last year, when his attitude was extremely bearish until March and April, and many users hated him for it. Recently, however, we can observe a complete change in his forecasts.
What was happening on the Bitcoin chart?
Yesterday's session on BTC was closed at USD 10,923.63. The price of this cryptocurrency rose by $ 246. This, in turn, coincided with information released by Square, which announced that it had purchased Bitcoin for $ 50 million.
Due to the fact that the number of institutional investors is constantly growing, the trust in this cryptocurrency is growing along with it. Some time ago, a similar effect was triggered by MicroStrategy, which also acquired a significant sum of BTC.
As big players show interest in Bitcoin, this can send a signal to other investors to start a new cycle.
There has been little volatility on the BTC chart recently. The cryptocurrency has been trading between $ 10,000 and $ 11,000 for a long time, with the range narrowing. Whenever there is new news in the market, it causes a short hype, so investors should be cautious.