Top On-Chain Analyst Thinks Bitcoin Will “Pop” Despite BitMEX News

Bitcoin underwent a strong rejection on Thursday and Friday morning due to two fundamental trends. First and foremost, BitMEX was charged by the U.S. CFTC over derivatives concerns and anti-money laundering concerns. Secondly, it was revealed that President Trump was infected by the disease spreading the world. Bitcoin currently trades at $10,500, down a handful of percent since yesterday’s highs. This move lower resulted in the liquidation of millions worth of BTC trading positions on margin positions. Analysts remain bullish despite the strong move lower. Willy Woo, a prominent on-chain analyst, expects Bitcoin to “pop” moving forward. This echoes the sentiment put forth by Mike Novogratz of Galaxy Digital. Bitcoin Could Soon Pop Despite BitMEX News: Willy Woo Willy Woo, a prominent Bitcoin analyst, thinks the cryptocurrency is scared “for all the wrong reasons” in a comment on the severity of the BitMEX news. He thinks that fundamentally, the news…

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