{"id":30993,"date":"2020-10-30T14:46:01","date_gmt":"2020-10-30T12:46:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=30993"},"modified":"2025-08-28T00:59:30","modified_gmt":"2025-08-27T21:59:30","slug":"willy-woo-sees-bitcoin-regaining-its-status-as-a-safe-haven","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/willy-woo-sees-bitcoin-regaining-its-status-as-a-safe-haven\/","title":{"rendered":"Willy Woo sees Bitcoin regaining its status as a &#8216;safe haven&#8217;."},"content":{"rendered":"<p>The renowned analyst Willy Woo believes that the decline in the correlation between the leading cryptocurrency and stock-market dynamics confirms his September forecast that Bitcoin would regain its status as a safe asset.<!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">First signs of de-coupling behaviour spotted between BTC and stocks.<\/p>\n<p>Buying from an influx of new users provides price support preventing speculators from trading the correlation downwards.<\/p>\n<p>NVTP approximates a valuation for BTC with organic investor velocity on the blockchain. <a href=\\\"https:\/\/t.co\/AvilB9cfdD\\\">pic.twitter.com\/AvilB9cfdD<\/a><\/p>\n<p>\u2014 Willy Woo (@woonomic) <a href=\\\"https:\/\/twitter.com\/woonomic\/status\/1321840132723367937?ref_src=twsrc%5Etfw\\\">October 29, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>A surge in new users provides price support, preventing sales driven by the correlation with the S&#038;P 500. This decoupling emerged after the NVT Ratio indicator continued to rise to a new all-time high of $11,000 as markets fell.<\/p>\n<p>NVT Ratio shows how much Bitcoin&#8217;s market price corresponds to its demand as a means of payment. Read more about the indicator via the link.<\/p>\n<p>In September, Woo predicted a similar scenario. He emphasised that it would be driven not by changes in Bitcoin&#8217;s perception as a hedge against risk, but by the internal adoption of an S-curve, characteristic of a startup\u2019s lifecycle.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Another explanation of this, from 2 months ago when we were doubtful it would happen:<a href=\\\"https:\/\/t.co\/8alxtk3WG9\\\">https:\/\/t.co\/8alxtk3WG9<\/a><\/p>\n<p>\u2014 Willy Woo (@woonomic) <a href=\\\"https:\/\/twitter.com\/woonomic\/status\/1321840136737366016?ref_src=twsrc%5Etfw\\\">October 29, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Recent days&#8217; events lead the expert to expect that Bitcoin may hold its current levels even if stocks fall sharply.<\/p>\n<blockquote>\n<p>\u201cThe current test shows that an inflow of new capital into the leading cryptocurrency will create the conditions for it to retain its safe-haven properties,\u201d the analyst says.<\/p>\n<\/blockquote>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Note that stocks may continue to rise, if that\u2019s the case the notion of de-coupling is not so important. What this test shows is that if stocks crash, Bitcoin powered by its large adoption s-curve, swallowing ever more capital, will present perfectly good safe haven properties.<\/p>\n<p>\u2014 Willy Woo (@woonomic) <a href=\\\"https:\/\/twitter.com\/woonomic\/status\/1321840138410864640?ref_src=twsrc%5Etfw\\\">October 29, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Skeptics drew Woo&#8217;s attention to the fact that such &#8216;decouplings&#8217; had previously been short-lived. One of them argued there was no reason to doubt that cryptocurrencies follow the stock market.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">We already had some decouplings between <a href=\\\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\\\">#BTC<\/a> and <a href=\\\"https:\/\/twitter.com\/hashtag\/DJI?src=hash&#038;ref_src=twsrc%5Etfw\\\">#DJI<\/a>. They all were short-lived. Macro rule was (and still is): crypto goes up \u2014 stock markets go up. Stocks go down, so the crypto.<a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/DowJones?src=hash&#038;ref_src=twsrc%5Etfw\\\">#DowJones<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/Dow?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Dow<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\\\">#crypto<\/a> <a href=\\\"https:\/\/t.co\/G5r3pQI05v\\\">pic.twitter.com\/G5r3pQI05v<\/a><\/p>\n<p>\u2014 Coingilla (@coingilla) <a href=\\\"https:\/\/twitter.com\/coingilla\/status\/1321942660358295552?ref_src=twsrc%5Etfw\\\">October 29, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>In May, Amsterdam Stock Exchange trader Michael van der Poppe urged not to bet big on changing the correlation between the S&amp;P 500 and Bitcoin. He noted that during market turbulence all assets tend to move in tandem.<\/p>\n<blockquote>\n<p>\u201cAfter the March meltdown gold, silver and Bitcoin really held up against any downside moves and showed strength relative to the stock markets. Do not tie yourself to these correlations,\u201d he said at the time.<\/p>\n<\/blockquote>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">When shit hits the van (which was in March), all correlations tend to go towards 1.<\/p>\n<p>Sinc then, gold, silver &#038; <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> have been resilient for any downwards move and showing strength apart from the equity markets.<\/p>\n<p>Don\u2019t pin yourself on those correlations.<a href=\\\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$BTC<\/a><\/p>\n<p>\u2014 Crypto Micha\u00ebl (@CryptoMichNL) <a href=\\\"https:\/\/twitter.com\/CryptoMichNL\/status\/1260824287520440320?ref_src=twsrc%5Etfw\\\">May 14, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>According to BlockchainCenter, from October 14 to 30, Bitcoin&#8217;s correlation with the S&amp;P 500 fell from 0.47 to 0.30.<\/p>\n<p>Earlier The Block analyst Larry Chermak <a href=\"https:\/\/forklog.com\/en\/news\/researcher-bitcoin-sp-500-correlation-strengthens-in-falling-markets\">concluded<\/a> that Bitcoin&#8217;s correlation with the S&amp;P 500 strengthens in falling markets.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The renowned analyst Willy Woo says that the decline in Bitcoin&#8217;s correlation with stock-market dynamics confirms his September forecast that Bitcoin would regain its status as a safe asset.<\/p>\n","protected":false},"author":1,"featured_media":30994,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1145,1268,1967,1514],"class_list":["post-30993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-market-analysis","tag-on-chain-analysis","tag-sp-500","tag-willy-woo"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=30993"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30993\/revisions"}],"predecessor-version":[{"id":30995,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30993\/revisions\/30995"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/30994"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=30993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=30993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=30993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}