Renowned trader Scott Melker interviewed chain analyst Willy Woo on November 30. During the interview, Willy talked about bitcoin (BTC) in particular. It has been shown to be quite bearish when it comes to the upcoming price of the crypto flagship.
Fall between $14,000 and $10,000
In his interview, Woo explained that buyers are asking for bitcoin (BTC) back recently. This made it possible reduce the volatility of the flagship cryptocurrency which ended up in a sideways trend. “People buy, they put a floor on the price, volatility goes down. We saw that 2018 is low, 2015 is low. We even saw that in 2012 is low. So yeah, of course people keep the price high because they want bitcoin“said the analyst.
Willy Woo said that the price of BTC, which is currently around $17,000, could drop to $14,000, or even $12,000, or maybe $10,000. On the other hand, he said:$12,000 wouldn’t bother me. $10,000, I think everybody wants it and usually what everybody wants doesn’t happen“.
The crypto analyst also spoke of “kind of retreat» that was with BlockFi Bankruptcy. According to him, “it was inside sellers, who knew that the announcement would happen“. The price of the crypto then “dropped 500 bucks or something“. “And then now we’re breaking up” said Willy.
Bitcoin (BTC) price manipulation
Note that last September, Woo made a series of tweets about bitcoin (BTC) price manipulation. He had said that opponents of a major crypto project suppress and manipulate its prices through the futures market. The enemies in question are: Wall Street and hedge funds.
In addition, the analyst Explained :”Currently, the SEC’s policy arc is to increase the liquidity and dominance of futures contracts by allowing multiple futures ETFs, while rejecting all spot ETFs. It is now a political game“.
Willy Woo emphasized the fact that the CME Group, the world’s largest derivatives market, has launched “Casino BTC where you had to pay in dollars to play“. According to him, as a result of this project, limitations on the sale of bitcoin (BTC) were removed, making fiat unlimited.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and share my pen knowledge related to this ecosystem.