Spike in new participants buying Bitcoin is ‘obviously bullish’ — Analyst

The price of Bitcoin (BTC) has remained relatively flat for September and the strong decline in altcoin and DeFi token prices seems to be making the situation worse for many investors. 

Despite this lack of bullish momentum, on-chain data reveals that new participants are joining the Bitcoin network at an alarming rate.  

Although the price has failed to react to the sharp inflow of new participants, on-chain analyst Willy Woo believes that this is a strongly bullish sign. Sept. 30 Woo


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