According to Willie Wu, the first cryptocurrency is in the final phase of accumulation before returning to growth.
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Chinese crypto journalist and analyst Willie Wu claims that the correction in the cryptocurrency market will end soon. According to him, this is indicated by various on-chain metrics that look "healthy". Wu explained that the first cryptocurrency is now in the final phase of accumulation before returning to gains.
“I see it as accumulation. This means that everything goes down, is tested, and then goes up without a hitch. As the demand for bitcoin grows, investors buy the asset, and speculators continue to make money on fluctuations in the exchange rate, ”Wu explained.
According to Wu, Bitcoin could start an active recovery in the next few days.
On November 29, Bitcoin is trading at $ 56.9 thousand.Over the day, the cryptocurrency has risen in price by 7%, and its capitalization has increased to $ 1.07 trillion, according to CoinGecko.