Willy Woo: The Bitcoin on-chain model predicts a bottom range between $46,000 and $54,000
ChainCatcher reported that on-chain analyst Willy Woo stated that traditional on-chain models indicate Bitcoin's current bottom range is expected to be between $46,000 and $54,000. Data shows that Bitcoin storage funds have been continuously flowing out since last year, while the Cumulative Value Days Destroyed (CVDD) bottom model currently reads $45,500. This model has the characteristic of continuously increasing in value over time.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Why Is Tether Bringing USDT Back to Bitcoin Now? Morgan Stanley Offers a Clue
Swiss Franc: Dovish SNB keeps CHF under pressure against US Dollar – ING
Japan Central Bank inflation indicators accelerate, providing grounds for further interest rate hikes
An indicator used by the Bank of Japan to measure underlying inflation accelerated last month, significantly exceeding its target level, providing further justification for continuing to raise the benchmark interest rate.
Hut 8 Wins $140M Bid For Poolin’s Texas Data Centers
Crypto prices
More
