RATE Group | Willy Woo’s Bitcoin Difficulty Ribbon Suggests Drop Below $6,000/BTC “Very Unlikely”
57263
post-template-default,single,single-post,postid-57263,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Willy Woo’s Bitcoin Difficulty Ribbon Suggests Drop Below $6,000/BTC “Very Unlikely”

07 Aug Willy Woo’s Bitcoin Difficulty Ribbon Suggests Drop Below $6,000/BTC “Very Unlikely”

Posted at 22:11h in Bitcoin News by

[ad_1]

On-chain metrics analyst Willy Woo believes we may never see another $6,000 Bitcoin again. The trader bases his theory on his latest technical indicator, the Bitcoin Difficulty Ribbon.

Woo argues that a miner capitulation he expects to see in 2020, along with the halving of Bitcoin supply next May, will “add more fuel to the bull market.”

Woo: Reducing Numbers of Bitcoin Hitting Market Will Fuel Current Bull Season

Appearing on former Wall Street trader Tone Vays’s Trading Bitcoin YouTube show earlier today, on-chain metrics analyst Willy Woo delved deeper into his recently-detailed Bitcoin Difficulty Ribbon indicator.

He commented on how the Bitcoin Difficulty Ribbon inverted at around the December 2018 $3,200 Bitcoin low, saying that this is a clear signal to him that the bottom has been reached:

“To me, this is extra confirmation that we are in a bull season… It’s less now but some people still think we’re in a mid-bear season rally, and it’s a B-wave, and we’re…

[ad_2]

Source link

Tags:
, , , , , , ,