The most famous cryptocurrency market analysts: Plan B and Willy Wo believe that the upward trend of Bitcoin is not over yet.
Popular Bitcoin analyst Willy Wo noted several signs and symptoms indicating that the 2022 Bitcoin bull run has some strength left for a new ATH. The price of Bitcoin fell significantly this week, reaching $30,000 per BTC.
During a May 21, 2022 interview with podcaster Peter McCormack, Wu discussed a number of points, including Bitcoin's recent network and price activity, as well as its current status.
Our forecast for the current situation with the cryptocurrency rate: Analytics of cryptocurrency markets.
According to Wo, now is one of the best times to buy cryptocurrency (see chart below).
Wu noted that many macro indicators point to a positive outlook for the price of Bitcoin in the near future.
There is a huge amount of online activity between users compared to the valuation of the asset. Willy Wo, citing data from Bitcoin's NVT ratio, which shows the activity of the blockchain network in relation to market capitalization.
Bitcoin is only in the middle of a bull market - Willy Wo
This is just the middle of Willy Wo's derivatives bull market on the current state of Bitcoin.
Previously, Bitcoin reached around $65,000 in April 2022 and subsequently declined to $50,000 before falling to the $30,000 range after a brief recovery.
McCormack asked Wo bluntly: “So this isn’t the end of the bull market?” To which Wu replied: “No, not at all.”
Looking at his chart, Wo said price targets and details depend on the coming days, although he expects the price of Bitcoin to reach levels above $100,000 per coin.
