Bitcoin Price To Explode In November, Analyst Says

Willy Woo predicts that Bitcoin will be going nuts in the upcoming months as long-term holders keep accumulating the king coin.

Recently he said that long-term hodlers or entities that have been keeping their BTC dormant for at least 5 months would be making their presence felt in the upcoming months.

“This is a macrocycle thing. You would have seen it at the 2015, 2014 bottom. You saw it at the 2019 bottom, and actually, you saw it over the 2020 where we came back down. There was the Covid crisis.”

He also brought up Michael Saylor scooping up all the coins, and he said that that was another peak of long-term holders accumulating.

Woo said that this is what peak accumulation looks like.

“That means peak accumulation. Peak accumulation means, that’s defining this kind of sideways band and then after that, we do a run-up.”

The market is going to go nuts

He continued and explained that last run-up was $10,000 to $60,000 starting from October last year.

He reminded his followers that the run-up before that was from $4,000 to $14,000 over a matter of months.

“All the coins are being scooped up by these long-term guys… Just the structure of the market is like, “This thing is going to go nuts.’”

At the moment of writing this article, BTC is trading in the red, and the coin is priced at $47,756.13.

In other recent news, Bitcoin has been doing great lately, and despite the massive volatility in the crypto space, the king coin is trading around $50k for a while now.

More than that, mass adoption is also going great, and good things are taking the goals of the crypto space on the right track.

There are only a few days left until BTC becomes a legal currency in El Salvador. This move was extremely important for the crypto space.

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