Most Crypto Influencers Are Confident Bitcoin Bottomed out, Prominent Analyst Reveals

Francisco Memoria

Willy Woo, a prominent cryptocurrency analyst, has recently revealed he surveyed some of the most notable influencers, analysts, and traders in the cryptocurrency space to find out whether they believe the bear market has bottomed out. Most revealed they’re confident it has.

According to several tweets Woo published, cryptocurrency influencers like Kraken founder Jesse Powell and analyst Arjun Balaji – along with influencers like WhalePanda and entrepreneur Alistair Milne - are 90% certain the bear market bottomed out, while Woo himself revealed he is 90% certain.

Other influencers, like the co-founder of Fundstrat Global Advisors Tom Lee, who predicted that BTC would hit a $25,000 all-time high by the end of last year, revealed they’re 90% sure. Mike Novogratz, the founder of Galaxy Digital, claimed to 85% certain.

While most were bullish, some cryptocurrency influencers revealed they were bearish and saw slim chances the bear market has bottomed out. Cryptocurrency entrepreneur Vinny Lingham, for example, was 20% certain the bottom was in, while YouTube host Tone Vays went with 40%.

Woo’s tweetstorm on how bullish or bearish crypto influencers are came after an online debated hosted by Tone Vays, in which whether the bottom was in for bitcoin was discussed. To Woo, bitcoin’s adoption hasn’t stopped growing as every year “we’re seeing a doubling in user base,” which is lead to more capital being injected in BTC.

The prominent cryptocurrency analyst added some influencers noted it may be too bullish to point to a bear market bottom. Jesse Powell, Kraken’s CEO, revealed the “bottom is never in” as “everything can go to 0.”

Peter Brandt, a prominent trader who predicted last year’s bear market that saw bitcoin plunge from a near $20,000 all-time high to about $3,200, noted there’s a “50% chance BTC goes to $50k. 25% chance we establish a very prolonged broad trading range for several years. 25% chance we go to basically zero.”

At press time, one bitcoin is trading at $5,550 after rising 4.5% in the last 24-hour period. The flagship cryptocurrency has been seeing its price steadily rise since it hit $3,200 late last year. Recently, BTC saw a classic “Golden Cross” occur, a typically bullish sign.