Cryptocurrency Expert: Bitcoin (BTC) and Gold May Start Rising This Week

Crypto analyst and trader Willy Woo tweeted that Bitcoin (BTC) and gold may start rising this week as they remain the safest port assets this year.

On March 22, Bitcoin price fell from the $ 6,200 region and is now changing hands at $ 5,800. Crypto money trader Willy Woo said that acting as a safe haven asset that differs from traditional markets, Bitcoin can show signs of growth in a week.

Seeking the decoupling…

Here’s where we are in the timeline compared to the 2008 banking crisis.

Decoupling of safe havens from equities showing hints it may have begun (i.e. when BTC and Gold go bullish). We’ll have more confirmation in a week. pic.twitter.com/rncwkugajc

– Willy Woo (@woonomic) March 23, 2020

At the end of last week, Woo had tweeted a series of tweets where he stated that Bitcoin should leave the traditional market to prove its safe harbor situation.

Continuing this discourse, Woo said that Bitcoin has already begun to separate from traditional assets and that its price could begin to rise within a week. The same goes for gold, according to experts.

Bitcoin (BTC) May Stand Out With Gold

Woo compares the current situation to the financial crisis that hit the world in 2008 and explains the situation as follows:

Traders are closing on USD, and individual investors sell everything to switch to USD, and all assets collapse against the US dollar.

Woo estimates that the search for safe assets will begin by overcoming the high level of fear. According to the analyst, gold and Bitcoin will come to the fore as the best investment tool to avoid risk. The analyst expects Bitcoin and gold prices to explode in 2020, just as gold prices exploded after the 2008 crisis.

“Bitcoin Trying to Hold on”

Trader and economist Alex Kruger evaluated the current situation in the markets, including BTC. Following the fall in the oil price and the Nikkei index, the analyst observes that gold has grown. Based on these observations, Kruger says that the correlation between the Bitcoin and S&P 500 index has been increasingly weakened.

Crude oil wants to trade in the teens tonight. Nikkei dying. Gold up (for now). Bitcoin trying to hold up. $ BTC has lately been trading like a low beta stock.

– Alex Krüger (@krugermacro) March 22, 2020