Willy Woo said that the days of Bitcoin tracking traditional markets are numbered. So, a long-term downtrend flips to form bullish support.
Statistician Willy Woo said that Bitcoin (BTC) would most probably decouple from traditional assets. This is because a key gold relationship breaks out of a long-term downtrend.
On Thursday, there was a Keiser Report TV show. In an interview with RT host Max Keiser, CEO Michael Saylor explained that he initially wanted MicroStrategy to adopt at ‘Bitcoin Standard.’
Saylor said that they have a currency war. Nevertheless, it is not a war to make the United States currency weaker than the euro. The currency war is that anybody that holds currency is getting attacked.
Moreover, Saylor noted that they begin to realize that the financial and political policies of the central banks make the currency toxic. He thinks that Bitcoin is that non-toxic currency.
Also, Saylor noted that swapping cash made sense. In 2020, scarce assets were inflating by up to twenty-five percent, and ten percent each year after that. Therefore, sitting on cash reserves was akin to an ‘ice cube that’s melting.’
In a tweet on September 25, Woo forecasted that Bitcoin would act as a successful startup in accruing now interest and going its own way.
Woo argued that adoption would follow a classic S-curve pattern. It is much in the same manner that the startup is growing. Thus, it will take precedence over investors that look for a hedge against other assets.
Woo forecasts that Bitcoin will most probably decouple from traditional markets soon. Nonetheless, internal adoption s-curve (startup-style growth) will drive it rather than change perception as a hedging instrument by purist investors.
As Cointelegraph reports, Both the Bitcoin network hash rate and difficulty are at record levels. Thus, it underscored the long-term appreciation of profitability among miners and competitiveness.