Willy Woo: Bitcoin ROI Is As Performant Today As It Was In 2009
At the weekend, Bitcoin recorded the drop below the level of $ 8,500. At the press time, cryptocurrency is trading at a level of $ 8,553, which is equivalent to a daily increase of 0.09%. Most of the TOP 10 assets of the CoinMarketCap capitalization rating are also in a positive tendency.
According to some users, a drop in the value of BTC can lead to a price rebound. The goal of the latter, presumably, will be the level of $ 9,000.
One of the participants in the crypto community drew attention to divergence (a discrepancy between the direction of movement of the price of an asset and the indicators). Such a situation, according to the rules of technical analysis, indicates the likelihood of a change in the direction of the asset.
I know that #Bitcoin might seem bearish right now. However, I can't be the only one who sees this big bullish divergence on the 4 hour chart? It's also in the 1 hour chart.
I think that #BTC will do well in the coming 2-3 weeks!!
Current price $8,540. pic.twitter.com/2Mr8RQuVuU
— The Moon (@themooncarl) November 17, 2019
Moreover, the large part of the crypto community believes the current price is favorable for BTC purchasing. According to a popular trader who runs a blog under the nickname ฿ TF% $ D !, users expecting a serious drop in the cost of Bitcoin for purchase will not materialize.
The people who are waiting around for $1,000 Bitcoin will end up buying on the $20,000 breakout, he posts
Another analyst and trader in the crypto community, Willy Woo, drew attention to the possibility of investing in BTC.
As the Bitcoin asset class inflates with value, it has outperformed every other asset class for its entire 10 year history.
Under the lens of ROI adjusted for risk, it's as performant today as it was in 2009, you haven't missed the boat. pic.twitter.com/2OvdonlqeP
— Willy Woo (@woonomic) November 18, 2019
The specialist believes that the attractiveness of bitcoin, as an asset for investing, is still extremely high. The trader noted that those who did not manage to acquire cryptocurrency in 2009 can fill the gap today. At the same time, the level of return on investment, adjusted for possible risks, will be, he believes, also high.
Meanwhile, developers continue to explore ways to improve bitcoin. At the moment, specialists are looking for solutions to increase the level of confidentiality and scalability of the cryptocurrency.
Recall, a previously popular analyst presented a forecast according to which 2020 could be a period of growth for BTC.