Willy Woo: Traditional on-chain models indicate that Bitcoin's bottom is between $46,000 and $54,000.

robot
Abstract generation in progress

Golden Finance reported that on March 30, crypto analyst Willy Woo stated that some traditional on-chain models indicate that the bottom for BTC is roughly between $46,000 and $54,000, while also suggesting that more waiting time may be needed. The scale of capital stored in BTC has been flowing out since November. However, it is important to note that these models also have limitations. These models are based on historical behavior, and historically, Bitcoin has only experienced four bear markets, all occurring against the backdrop of a long-term bull market for risk assets. If this foundation is broken, we may enter unknown territory (a deeper bear market). Lastly, I personally believe that due to the potential collapse of the long-term bull market structure at the global macro level, the probability of a deeper bear market is quite high.

BTC1,28%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin