Willy Wu, a popular cryptocurrency analyst, 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 Twitter that the demand for bitcoin remains high - despite the depreciation of the first cryptocurrency. Long-term investors are not in a hurry to sell their stocks yet, so now is a good time to buy BTC: I guess BTC is in demand lately pic.twitter.com/5h1IeMT2lK - Willy Woo (
Hive account@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 believes. According to the analyst, the BTC rate is unlikely to drop to $ 20,000. It would be too fast, and "bull investors" have not lost their momentum yet. Such a drop can really confirm the transition to a bearish trend in the market and a prolonged phase of asset accumulation, the analyst argues. But Wu is sure that the market has been in the growth phase too little for this. "In terms of acceptance by humanity, bitcoin is at the same level as the Internet in 1997. But Bitcoin is growing faster. In four years, the number of BTC owners will reach a billion, whereas it took the Internet eight years," says Willy Wu. The long-term perspective, from the analyst's point of view, 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. Earlier, Willy Wu said that the decline in the bitcoin exchange rate in December last year was due to the closing of transactions by traders in the futures markets.
