Bitcoin (BTC) Might Never Go Below $30K Again, Top Analyst Claims


21 Nov 2023 9:46 AM

Bitcoin price may never fall back to $30,000 again, according to Willy Woo...

  • Market analyst Willy Woo believes that Bitcoin may never see the $30,000 price level again.
  • He supports his analysis with a "Bitcoin Cost Basis Density Map" that shows three events preventing Bitcoin from retesting its current key support level.
  • These events include strong bands of agreed price, coming out of a bear market, and heading into the next halving.
  • Bitcoin currently exhibits these three conditions, with the halving event scheduled for next April and the market moving out of a bear market.
  • Willy Woo also mentions that the potential approval of a spot Bitcoin ETF in the United States will attract more capital inflow and solidify Bitcoin's price growth thesis.
  • Many analysts are bullish on Bitcoin's continued surge.

The overall sentiment of the article is positive, with the analysis suggesting that Bitcoin's price will continue to rise and may not go below $30,000 again. The mention of a potential Bitcoin ETF approval and bullish forecasts further contribute to the positive sentiment.

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You May Ask

What is the analysis by market analyst Willy Woo regarding Bitcoin's future price?What are the three events that prevent Bitcoin from retesting its current key support level?What conditions does Bitcoin currently exhibit according to the analysis?How has the Bitcoin ecosystem changed from 2010 to the present, according to Willy Woo?What is the potential impact of a spot Bitcoin ETF approval on Bitcoin's price growth?

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