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Amid Bitcoin Price Drop, Crypto Analyst Foresees Sustained Rally

Samantha Chang
The bitcoin price cratered recently, but crypto analyst Willy Woo insists the bull market is just getting started. | Source: Shutterstock

The bitcoin price cratered this weekend, but the bull market is just getting started. That’s the assessment of crypto blogger Willy Woo, who says the downturn is merely a transitional phase before things start heating up again.

‘Long, sustainable bull drive’ to 2020

Woo, a partner at cryptocurrency hedge fund Adaptive Capital, says the latest market drop is laying the foundation for a sustained rally. “Fomo complete, stage set,” he tweeted.

“Stage 1 of the bull market is completing. Once we bottom, stage 2 begins, promising the long sustainable bull drive that takes us through all of 2020 (if BTC continues its personality). Stage 1 was trader-driven dominance squeezing us up and driving fomo.”

Willy Woo: Institutional investors are already here

Woo was following up to a prior tweet, where he claimed that institutional investors have already started investing in crypto.

The analyst believes this trend — coupled with the recent market volatility — is setting the stage for another bitcoin bull run.

Read the full story on CCN.com.