Bitcoin Could Soon Pop Despite BitMEX News: Willy Woo
Willy Woo, a prominent Bitcoin analyst, thinks the cryptocurrency is scared “for all the wrong reasons” in a comment on the severity of the BitMEX news.
He thinks that fundamentally, the news is bullish as it may force futures exchanges, which control the market, to reduce manipulation.
Woo added that with this news event, coupled with on-chain fundamental trends showing that there has been an influx of new users, should help to drive Bitcoin higher. He went as far as to say that the cryptocurrency is poised to “pop” in the near future:
Not the Only Remaining Bull
Woo isn’t the only bull in the face of the BitMEX news.
As reported by Bitcoinist previously, Mike Novogratz, CEO of Galaxy Digital and a former Goldman Sachs partner, recently stated that feeling bearish on Bitcoin due to the BitMEX news is irrational because the space is larger than once exchange:
Many agreed with the sentiment Novogratz shared, including Bill Barhydt of Abra and hundreds of users on Twitter, who shared and liked the comment he shared.
Featured image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Top On-Chain Analyst Thinks Bitcoin Will "Pop" Despite BitMEX News
Originally from Bitcoinist.com https://ift.tt/33rETyK
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