Before the last FED meeting of the year, the direction of the decisions became unclear due to inflationary pressure.
While this hazy weather has dampened the risk appetite of some investors, on-chain data suggests that someone is continuing to buy the bottoms.
Although many on-chain data on Bitcoin indicate that the price has gone from overheating to cooling, so the real peak may not be seen yet, these data are not enough to increase the risk appetite in Bitcoin.
Although Bitcoin, which moves below the important price averages and creates a double top formation from the bearish formations, continues to unsettle investors, popular analyst Willy Woo shared new data that the bull market will continue.
Stating that with the last drop in Bitcoin, retail investors bought Bitcoin very hard, the analyst stated that such a hard purchase occurred during the Covid collapse in March 2020. Bitcoin, which retreated to $ 3000 at that time, later managed to rise to $ 69,000.
Noting that this move does not indicate a real bear market, the analyst said, “True bear markets occur when we have no buyers, not sellers.” said.
The last time retail bought the dip this hard was at the bottom of the COVID crash.
Probably nothing, few, etc etc. pic.twitter.com/HuxNxYMl48
— Willy Woo (@woonomic) December 14, 2021
*Not Investment Advice.