Express
On-Chain Analyst Willy Woo: Bitcoin Network’s User Growth Is Now Near All-Time High
Summary: Popular on-chain analyst and market commentator Willy Woo said during an interview on the What Bitcoin Did podcast that he has seen signals suggesting that the Bitcoin network’s user growth is now “near an all-time high,” at a time in which the price of bitcoin has been ranging between $30,000 and $40,000. Woo said he ...
Popular on-chain analyst and market commentator Willy Woo said during an interview on the What Bitcoin Did podcast that he has seen signals suggesting that the Bitcoin network’s user growth is now “near an all-time high,” at a time in which the price of bitcoin has been ranging between $30,000 and $40,000.
Woo said he does not believe bitcoin’s price is in a typical bear market, with on-chain signals suggesting “people are coming in.” Bitcoin, Woo said, is moving sideways in “what we call a Wyckoff accumulation price pattern” which suggests that large cryptocurrency investors are building up positions while preparing for its price to surge in the near future.
By Amy Liu
Tags: Bitcoin Network,Users,Willy Woo
Link: On-Chain Analyst Willy Woo: Bitcoin Network’s User Growth Is Now Near All-Time High [Copy]
