Willie Wu: Bitcoin will bottom out between $10,000 and $14,000

Well-known analyst Willy Wu, who is also involved in blockchain research, shared his thoughts on the future movement of the cryptocurrency market. He said that the big players started to enter the game again and thus reduced the volatility of the main cryptocurrency. Thus, the flagship cryptocurrency was once again placed in a sideways trend. He also called this period the period of accumulation of bitcoins.

According to Willy Wu, the same situation was observed in 2012, 2015 and 2018:

People buy, set a floor, volatility drops. The market faced such a situation in 2018, 2015 and 2012. As long as investors are interested in bitcoin, the price will hold.

Willy Wu also noted that recent events with the fall of several exchanges and companies affected the main cryptocurrency, but it shows enviable resilience and you should not worry about its future fate:

With the bankruptcy of BlockFi, we saw a pullback. At the same time, bitcoin began to fall in advance, as the sellers were already ready to file for bankruptcy. As soon as BTC fell, it was bought up. Now bitcoin has started to rise again. This suggests that there are many buyers at this price.

Willy also noted that many investors want the main crypto asset to sink to the $10,000 mark. However, in his opinion, Bitcoin may not reach such a price, but $12,000 and $13,000 are quite possible options for the further goal of BTC:

Many investors want bitcoin to fall to $10,000. $12,000 or $13,000 doesn't shock me. Bitcoin can rise higher or fall lower, now is a good time for the average price.

Many investors, traders and other figures from this industry have already shared their opinions regarding the further movement of the main cryptocurrency and the market as a whole. Opinions were divided into more pessimistic and extremely optimistic. For example, Mark Morbius, a well-known investor who founded the Morbius Capital Partners fund, believes that BTC will reach a price of $10,000 . Michael van de Popp, one of the main supporters of bitcoin, also supports his opinion . But an anonymous PlanB analyst seems to believe that the main cryptocurrency can reach the coveted mark of $100,000 . However, his assumptions indicate that the goal will be achieved after the next halving, and any expert can share such statements. For this reason, his words as a whole, as well as the Stock To Flow system he developed, are skeptical.

Earlier, we talked about the fact that Bitcoin today fixed at $17,000. You can read about this and the current situation on the market by clicking on the link .