Popular on-chain analyst Willy Woo thinks Bitcoin’s bull run is far from over.
Woo tells SALT Talks that investors who simply buy and hold are “coming in very strong” in the current Bitcoin market and are acting as a driving force of the current bull run.
Explains the analyst,
“We’re seeing a net flow of coins from participants that have been traditionally more or less speculating or buying over the short term and then selling – maybe they’re like traders that trade in and out of altcoins – but essentially these new people… they’re just buying and locking up the coins. That’s been a very big driver of this bull market, that there’s been strong buying…
A lot of the conversation has been about institutional investors. That’s true. But also, I think that there are a lot of high-net-worth investors coming in here, coming to buy it in slugs of $1 million at a time. We saw that