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❕NEWS The rise of Bitcoin is more 'organic' for years. So an analyst explains why a blow-off top is unlikely.

highspeed

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Despite the steep rise for Bitcoin (BTC) in November, the price is consolidating above $ 15,000. The on-chain analyst Willy Woo says that a blow-off top is unlikely for three main reasons.

These factors are:

- The growing outflow of funds from exchanges,
- The increase in the number of "HODLers,"
- The data that investors have already cashed in on profits.
 

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Despite the steep rise for Bitcoin (BTC) in November, the price is consolidating above $ 15,000. The on-chain analyst Willy Woo says that a blow-off top is unlikely for three main reasons.

These factors are:

- The growing outflow of funds from exchanges,
- The increase in the number of "HODLers,"
- The data that investors have already cashed in on profits.
I think the third reason is not a good reason as the fact that they have made profits will make them to turn to sell and thus the price will fall instead of rising
 

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The increase in the number of holders is a good sign that the bitcoin supply in the market will most times be limited thereby making the price to rise in my opinion these points don't hold weight in my opinion.
 

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A blow-off top means a price chart showing a rise in a currency Price followed quickly by a fall in the currency price. But with the bullish trend of Bitcoin recently shows that the possibility of a blow-off top is impossible. Though for whatever reason the Bitcoin bullish trend keeps gaining momentum reaching new highs
 

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I think if there are more holders then anm very sure that the price would have a good turn , only if those holders are not necessarily setting a close range to withdraw their earning
 

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Despite the steep rise for Bitcoin (BTC) in November, the price is consolidating above $ 15,000. The on-chain analyst Willy Woo says that a blow-off top is unlikely for three main reasons.

These factors are:

- The growing outflow of funds from exchanges,
- The increase in the number of "HODLers,"
- The data that investors have already cashed in on profits.
The second point is the real reason for me with the raise in price of bitcoin almost daily people are holding their coins more to sell at a most productive price
 

CrazySher

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Despite the steep rise for Bitcoin (BTC) in November, the price is consolidating above $ 15,000. The on-chain analyst Willy Woo says that a blow-off top is unlikely for three main reasons.

These factors are:

- The growing outflow of funds from exchanges,
- The increase in the number of "HODLers,"
- The data that investors have already cashed in on profits.
Hmm, thank you for telling that I never knows that how the price of bitcoin goes high or low. Do you know any other reasons which push the bitcoins price high or low?
 

highspeed

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Hmm, thank you for telling that I never knows that how the price of bitcoin goes high or low. Do you know any other reasons which push the bitcoins price high or low?
Yes, my friend, there are other factors in this period, but now I don't remember. But these are the three main reasons. This information can be found on any online exchange section.
I read also that the future prevision for Bitcoin are positive, even for the next year 2021.
Thank you
 

highspeed

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The second point is the real reason for me with the raise in price of bitcoin almost daily people are holding their coins more to sell at a most productive price
Yes. Moreover, now, given the circumstances of the continuous growth in the value this crypto, which just in November had an increase of 15%, makes sure that no good investor sells their Bitcoins.
 

Josemendez

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Yes. Moreover, now, given the circumstances of the continuous growth in the value this crypto, which just in November had an increase of 15%, makes sure that no good investor sells their Bitcoins.
True. However today seems to be another bad day for cryptocurrency market as most of them are showing a downward trend .
 
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