The optimistic predictions about BTC continue, and it seems that the crypto space is in a new bull cycle.
A famous crypto analyst said that BTC has just completed the very first step in a new bull market cycle.
BTC is in a new bull market cycle
Willy Woo, the inventor of the Network Value to Transactions Ratio (NVT), told his 102,000 followers on Twitter that he believes a long-term, sustained rally is now on deck, once BTC finds its next bottom.
“Stage one of the bull market is completing, once we bottom stage two begins, promising the long sustainable bull drive that takes us through all of 2020 (if BTC continues its personality). Stage one was trader driven dominance squeezing us up and driving fomo. Fomo complete, stage set.”
According to the online publication the DailyHodl, he also responded to the BTC critic Peter Schiff who said that BTC’s success is based on clever marketing with early investors hoping that they will cash out when institutional money comes pouring into the market.
To Peter's points, institutional investors are already coming in, I do not believe they are suckers by virtue of needing to understand risk management. The data I see is that old hands (via UTXO age) are distributing coins over time, the capital inrush is more than enough. https://t.co/gQf8mwY1Rd
— Willy Woo (@woonomic) July 28, 2019
Another analyst, Kate Warne is cited by the Daily Hodl as telling Business Insider the following:
“We don’t like the specifics of Bitcoin, and we really think the price is moving around on speculation, rather than something else. When you think about bitcoin, you’re looking to buy something that you hope to sell for more to somebody else who’s more excited than you are. That’s the essence of speculation…”
Warne continued and said, “We would not advise investing in them or speculating in them. If it goes up, sell it. If it goes down, sell it. But get out quick.”
Bitcoin latest prediction
Another recent prediction regarding the price of BTC involves Anthony Pompliano.
He recently outlined why he believes that the expected rate cuts from the European Central Bank will help make the benefits of Bitcoin more obvious to potential investors.
