If you’re at the point where you’re bidding on one Bitcoin every 5 minutes, you’re going to go broke. There’s no evidence that the 2013 double pump is back, as there’s no evidence that the no-coiners are buying the dip.
Willy Woo is an entrepreneur, investor, trader, and cryptocurrency enthusiast. He has founded and sold two businesses, worked as Head of Risk for a top-3 global exchange, and is the creator of the Woobull Charts. Willy started investing in Bitcoin in 2012 and has been involved with it ever since. He operates the bitcoin-only investment fund, Woobull Group, which has raised over $1.1m since its inception in 2014.
Bitcoin has had a terrible start to the year, and many have been concerned that there would be a repeat of the 2013 bubble. However, Willy Woo, an expert in the cryptocurrency industry, has an interesting theory about why the 2013 double pump hasn’t happened this year. He believes that the reason is that people who are new to cryptocurrency don’t have the same enthusiasm as those who were involved in the 2013 bubble. He does believe that the price of bitcoin will continue to drop, however, which is why he recommends to anyone who is interested in buying bitcoin to do it as soon as possible.. Read more about is bitcoin safe and let us know what you think.According to noted crypto-currency analyst Willie Wu, the blockchain’s performance shows that the bitcoin (BTC) bull market is largely holding up because so-called non-coiners are buying the deal. In a series of tweets Monday, Wu said the recent correction in bitcoin and altcoin prices mirrors the Covid 19 white swan event, leaving silver that was on the sidelines to enter the market at discounted prices. This means that the market’s uptrend, which began in October 2020, has not yet been broken, which should refute any suggestion that the current four-year cycle is developing like the double-pump of 2013. By the way, the important note here is that this doesn’t look like the 2013 double pump. So far, it structurally looks like a white swan from COVID when those on the sidelines have taken the opportunity to get in the game. (Other diagrams in the chain also show the same structure) https://t.co/Pt4dcKchQ4 – Willie Wu (@woonomic) 24. May 2021 Non-Coiners are taking this opportunity to buy into the failure, Wu said, referring to Glassnode’s chart showing the growth of net entities on the Bitcoin blockchain. The 2013 bitcoin cycle was marked by not one, but two manic peaks, separated by a massive 83% correction. Some analysts have suggested that after a recent 54% rise, bitcoin could experience a similar decline to 2013. This pullback is unlike anything we saw during the 2017 bull market, which had six price corrections ranging from 29% to 38%. Last week’s coordinated decline allowed institutions and other whales to amass more BTC at reduced prices. As Cointelegraph recently reported, during the price drop on 19. Maybe over 122,500 BTC in bitcoin kits. Most of these purchases are coming from the US and other Western investors, as evidenced by the large premium for BTC on Coinbase. The price of bitcoin reached $38,800 on Monday, according to TradingView. Last time it was just above $37,500 with a daily gain of 8%. On Sunday, the largest cryptocurrency by market capitalization hit a low of about $31,000, followed by a rebound. The overall cryptocurrency market rose more than 19% on Monday, with major altcoins up 15% or more.Willy Woo has been a Bitcoin enthusiast since the beginning, and is considered to be one of the smartest people in the industry. He is also a very controversial figure, as many people have doubted his optimistic price predictions. In his latest analysis, Willy claims that there is no evidence of the 2013 double pump because no-coiners (people who own no cryptocurrency) are buying Bitcoins. On the one hand, this is good news, as it means that the industry is maturing beyond its original niche. But on the other hand, it also means that the price rise may not be sustainable.. Read more about cryptocurrency prices and let us know what you think.
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