Analyst Willy Woo said there was a secret stage in terms of a bull run for Bitcoin. Pointing out that new investors joining the network are of macro importance, Woo also suggested that a short-term consolidation is expected for the BTC price.
When the Bitcoin price made a short visit below $ 15,000 in the past 24 hours, investors and market followers thought, “Was this rally just a glimpse?” his questions recurred. But many analysts have argued that Bitcoin is still running its bull run and that such hesitations or short pullbacks could occur. One of them was renowned on-chain analyst Willy Woo.
“Bitcoin is in the hidden phase of the bull run”
Analyst Willy Woo, who has 155 thousand followers on Twitter, shared Glassnode graphics in his statement on his account. Analyst Woo emphasized that it is in the “secret stage”, arguing that Bitcoin is still in a bull run. Emphasizing that experienced and high net worth investors bought BTC in this rally of Bitcoin, Woo cited Glassnode chart as evidence. Willy Woo added that this situation was also effective in the OTC market.
Willy Woo also pointed out that the high net worth individuals who switched to Bitcoin are new names. Woo shared an hourly chart of new investors who have not joined the blockchain before. The analyst underlined that this is a large bullish signal.
Investor activities will continue
Willy Woo also made statements supporting the Bitcoin rally in the analysis he shared 2 days ago. Woo suggested that consolidation is expected in the short-term target for Bitcoin, but the uptrend will continue afterwards. He stated that investor activities will continue in a medium-term period of 3 months. Woo drew attention to the growing investment activity trend and said that in a macro bull run this factor will provide momentum.