Popular analyst Willy Woo, who draws attention with his analyses in the cryptocurrency market, announced his latest predictions for the Bitcoin price.
Accordingly, Willy Woo criticized the long-term holding (LTH) metric used in his recent Bitcoin (BTC) analysis as outdated and misleading.
Woo said that the ‘long-term holder’ metric (Bitcoins held for more than five months – LTH) is flawed and that the metric based on long-term vs. short-term investor selling is outdated.
At this point, Woo said of Bitcoin’s recent decline, “it wouldn’t be accurate to say that long-term investors are selling and that’s why the price is falling.”
Woo stated that long-term investors sold, but the sold Bitcoins were immediately transferred to new buyers and institutional investors such as the treasury.
“The selling from long-term investors reflects more of a holding rotation.
That is, Bitcoins are changing hands to new investors or being transferred to institutional structures such as treasuries.”
Bitcoin Could Rise Within Two Weeks!
Willy Woo also shared on his X account that the latest Bitcoin liquidity indicator has begun to show signs of recovery.
At this point, Woo predicted that Bitcoin’s price will start to rise in about two weeks if the liquidity recovery continues.
Bitcoin, which has risen by 1.5% in the last 24 hours, continues to trade at $103,300, according to CoinMarketCap data.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/veteran-analyst-willy-woo-reveals-bitcoin-btc-price-prediction-within-two-weeks/
