According to Woo, Bitcoin was positioned for a bull market before the coronavirus pandemic affected nearly all risk-on markets. Woo’s new model, which accurately marked the start of four previous bull runs, indicates Bitcoin is preparing for another uptrend in the near-term.
How do you think?
in my opinion what happens is that people create high expectations because some analysts are making exaggerated price forecasts and when the price is stagnant people once again realize that they have been deluded and start selling, look at this:
Survey Shows 42% of Investors Expect a $15K Bitcoin Price in 2020are investors who are creating high expectations, maybe they should have bought more bitcoins in the hope of seeing the price reach $ 15,000, now imagine that these investors are already deluded with $ 15,000 and another guy appears saying that the price will reach $ 500,000
Max Keiser: US Hash Rate War With Iran Can Send Bitcoin Price to $500Kthese investors created more expectations, even if they appear on the forums saying that they are not believing in this forecast of $500,000 at the end of the day they are really believing in the forecast of $500,000 they just do not want to admit in public.