Bitcoin’s price saw a significant drop the other day and had some investors freaking out. But most BTC loves knew that this was the perfect occasion to buy the dip and this is probably exactly what they did.
At the moment of writing this article, BTC is trading in the green and the coin is priced at $56,832.30.
BTC’s trading price and activity
It’s been just revealed that in a recent podcast, on-chain analyst and the co-founder of Hypersheet, Willy Woo spoke about the massive surge in BTC’s trading price and activity as more new investors entered daily.
Santiment made sure to talk about how Bitcoin has seen quite a few occasions during which there have been very high spikes of transactions amounting to over $100k.
Woo also made sure to address the fake sell-offs.
“Markets selling off due to bogus data saying $1b of BTC flowing into Gemini. It’s the 2nd time it’s happened in the last 30 days.”
Woo’s BTC prediction
He continued and predicted his stance on the current cycle using few trustworthy indicators. He quoted:
“ Models that rely on moving averages to observe the rising “natural price” of bitcoin which helps to identify the degree to which it is above or below a specific natural range. If it goes up or down too quickly, for example, it might be a good strategy to use a little leverage to ride it back to a more locally appropriate price.”
He also made sure to talk about the traders exiting the market thanks to the relatively “high” price even when the coin undergoes a correction.
Check out his words: “You’re definitely a moron… if you sell in a bull run and try to buy back lower, that doesn’t work.”
Stay tuned for more news and make sure to keep your eyes peeled on the crypto market.