Crypto Expert Willy Woo Says Bitcoin Will Recover From Bear Market Just Like the Past

2018-8-14 19:39

Crypto Expert Willy Woo Says Bitcoin Will Recover Just Like The Past

The cryptocurrency market has been largely bearish this year, with Bitcoin having fallen below $6,000 in June and currently hovering around the same mark. However, cryptocurrency experts who have been observing the market and considering factors other than just speculation, they feel that is a healthy correction of the market, and that the future of the market, driven by adoption, is bright.

Willy Woo’s Accurate Prediction In The Past

Willy Woo, an experienced digital currency analyst with a strong focus on Bitcoin (BTC), has accurately prophesied BTC trends on two occasions. The first time he did so, was back in late May when he had doubts that BTC would hold its levels above $7,000. Mr. Woo would then foretell a decline to levels of $5,500 – $5,700 before the end of June. Sure enough, we touched $5,800 on June 29th.

The second time was when he predicted on the 1st of August that Bitcoin would flash dump then moon. He noted: “Interesting to see most think BTC will moon. I think BTC will flash dump, then moon afterwards, just like with Gold in WFC 2008. Flight to safety: everything else sells off to USD, then used to unwind leveraged positions, then afterwards havens like Gold and BTC have a bull run.”

Willy Woo’s Current Forecast

Considering the weak momentum of tokens and Ether, it is apparent that the market will continue its downtrend in the short-term, at least throughout this week. At a low price range, it is important for Bitcoin and other major cryptocurrencies to show stability rather than large upward spikes, as short-term surges in the price of BTC will only be followed by an even larger drop.

If BTC can exhibit resilience and endurance in the region of $6,200 and $6,500 throughout this week with strong volume, a rehabilitation to $7,000 is possible in the short-term. However, if BTC falls below the $6,000 level, it is possible that BTC tests the mid-$5,500 level.

While Bitcoin’s price movements might not look very promising to new investors at the moment, but there is a strong undercurrent of cryptocurrency adoption in the market right now, which is driving the development of the industry, as opposed to just speculation and trading.

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