Key Points
- Willy Woo reiterates the prediction that Bitcoin’s price will surge following more futures bets purge.
- Tether CEO Paolo Ardoino says BTC, the only decentralized currency, is “about certainty.”
Today, Willy Woo reiterated his prediction that Bitcoin’s price will surge again only after more futures bets are purged.
In a new post on X today, the Bitcoin on-chain analyst said that Bitcoin will not “get nice things, until more futures bets are purged.”
He told traders to bet more if they want to be bored and concluded by saying that BTC’s price action will get boring, the trading casino will go away and only after that, the price will pump.
His prediction comes following a recent observation that Bitcoin saw a rare miner capitulation event.
Woo noted via a post on X that this event is stemming from Bitcoin halving which took place on April 20 which is currently culling weak miners.
He also noted that as they die, they dump BTC, but the price of the coin will rebound afterwards.
Also, new reports coming from Julio Moreno, Head of Research at CryptoQuant, revealed that June 11 marked the largest daily selling volume of Bitcoin miners since late March.
At the moment of writing this article, BTC is trading near $67,000.
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Tether’s CEO addresses Bitcoin’s uniqueness
Recently, Tether’s CEO and Bitfinex CTO, Paolo Ardoino has addressed Bitcoin’s unique character amount crypto. He said in a recent interview that BTC is the only decentralized currency, the only example of a currency that is only ruled by math and cannot be changed.
He compared BTC to other coins saying that with other crypto, there is a group of devs who come every month with new software releases, changing the monetary policies, inflationary, deflationary and so on.
With Bitcoin, there will always be 21 million BTC, with a halving every four years until all the 21 million BTC is mined. Ardoino continued and said that Bitcoin is about certainty.
Bitfinex also shared a post via their X account, summarizing what Ardoino explained:
He also expressed his skepticism about the memecoin industry, saying that Bitcoin and memecoins are completely opposite parts of the spectrum.
