Leading on-chain analyst Willy Woo expressed confidence that the collapse of cryptocurrency exchange FTX will not deter traditional finance investors from investing in Bitcoin (BTC) and altcoins. Willy Woo told his more than 1 million Twitter followers that despite the widespread view that the collapse of cryptocurrency exchange FTX will set the cryptocurrency industry back many years, it offers an opportunity to enter the market for high-net-worth investors who are not facing regulatory restrictions.
Evaluating the price of Bitcoin, Woo used the following statements, claiming that the reason why the largest crypto money stands against the adverse winds in the negative macroeconomic environment is that long-term investors continue to accumulate BTC:
“If you’re wondering why BTC is resisting so much borrowing, there are long-term investors, Rick Astleys, who don’t give up on their BTC, who suck it up by meeting the sales.”
They buy from spot markets and add BTCs to their BTC.
Source: https://u.today/heres-why-bitcoin-may-end-q4-in-green-zone
wpDiscuz
