{"id":3721,"date":"2021-05-24T18:24:49","date_gmt":"2021-05-24T17:24:49","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=3721"},"modified":"2021-05-24T18:24:57","modified_gmt":"2021-05-24T17:24:57","slug":"no-record-of-2013-double-pump-as-no-investors-buy-bitcoin-dip-willy-woo","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/no-record-of-2013-double-pump-as-no-investors-buy-bitcoin-dip-willy-woo\/","title":{"rendered":"No record of 2013 double pump as no investors buy Bitcoin dip \u2013 Willy Woo"},"content":{"rendered":"\n
Bitcoin\u2019s<\/a> massive discount isn\u2019t just attracting the whales or the big investors; people who have never held the virtual currency or new investors are also buying.<\/h5>\n\n\n\n
\"No<\/figure>\n\n\n\n

On-chain metrics suggest Bitcoin\u2019s (BTC) bull market is very much intact as so-called \u201cno-coiners\u201d buy the dip, according to popular cryptocurrency analyst Willy Woo.\u00a0<\/p>\n\n\n\n

In a series of tweets on Monday, Woo\u00a0said\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>\u00a0the latest price correction for Bitcoin and altcoins mirrored the Covid-19 \u201cwhite swan\u201d event that allowed money on the sidelines to enter the market at discount rates. That means the market uptrend that began in October 2020 has yet to be broken, which should negate any speculation that the current \u00a0 four-year cycle is playing out like a \u201c2013 double pump.\u201d<\/p>\n\n\n\n

\u201cNo-coiners are taking this opportunity to buy the dip,\u201d Woo said, referring to a chart by Glassnode showing the rise in net entities on the Bitcoin blockchain.<\/p>\n\n\n\n

Bitcoin\u2019s 2013 cycle was marked by not one, but two mania tops that were separated by a massive 83% correction. Several analysts have speculated that Bitcoin could be charting a similar pattern as 2013 following the most recent 54% dump. That dump was unlike anything we saw during the 2017 bull market that witnessed six price corrections of between 29% and 38%.<\/p>\n\n\n\n

Last week\u2019s coordinated selloff allowed institutions and other whales to accumulate more BTC at discount rates. As Cointelegraph recently reported, Bitcoin whales accumulated over 122,500 BTC during May 19 price crash. Much of that buying came from U.S. and other Western investors, as evidenced by the larg BTC premium on Coinbase. <\/p>\n\n\n\n

According\u00a0to TradingView data. Bitcoin price traded as high as $38,800 on Monday. It was last seen hovering just above $37,500 for a daily gain of 8%. On Sunday, the largest cryptocurrency by market cap dropped to $31,000 on Sunday before staging a rebound.\u00a0<\/p>\n\n\n\n

The overall cryptocurrency market rallied more than 19% on Monday, with the major large-cap altcoins reporting gains of 15% ore more.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s massive discount isn\u2019t just attracting the whales or the big investors; people who have never held the virtual currency or new investors are also buying. On-chain metrics suggest Bitcoin\u2019s (BTC) bull market is very much intact as so-called \u201cno-coiners\u201d buy the dip, according to popular cryptocurrency analyst Willy Woo.\u00a0 In a series of tweets […]<\/p>\n","protected":false},"author":63,"featured_media":3722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[238],"tags":[152,367,369],"class_list":["post-3721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opinion","tag-bitcoin","tag-investors","tag-willy-woo"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/willy-woo-bitcoin.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=3721"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3721\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/3722"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=3721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=3721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=3721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}