{"id":23373,"date":"2024-06-23T14:45:21","date_gmt":"2024-06-23T11:45:21","guid":{"rendered":"https:\/\/coinengineer.io\/?p=23373"},"modified":"2024-06-23T14:20:50","modified_gmt":"2024-06-23T11:20:50","slug":"renowned-crypto-analyst-explains-why-bitcoin-btc-price-hasnt-recovered-yet","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/renowned-crypto-analyst-explains-why-bitcoin-btc-price-hasnt-recovered-yet\/","title":{"rendered":"Renowned Crypto Analyst Explains Why Bitcoin (BTC) Price Hasn&#8217;t Recovered Yet"},"content":{"rendered":"<p>Renowned cryptocurrency analyst Willy Woo recently shared insights on why Bitcoin (BTC) prices have yet to recover.<\/p>\n<p>In a recent statement, Woo discussed what is needed for Bitcoin prices to rebound.<\/p>\n<p>Woo explained, &#8220;When will <a href=\"https:\/\/coinengineer.net\/blog\/bitcoin-mining-faces-challenges-but-remains-stable\/\">Bitcoin<\/a> recover? When weak miners capitulate, and the hash rate stabilizes.&#8221;<\/p>\n<p>Woo highlighted the current situation as unprecedented, noting that the post-halving miner collapse has been unusually prolonged. He suggested that ordinals, which have boosted miner profits, could be a factor.<\/p>\n<p>Woo took us on a journey through past recoveries. He recalled the 24-day hash rate recovery in 2017.<\/p>\n<p>The 2020 recovery was a different story. Amid the chaos of the COVID-19 crash, recovery took just 8 days. During this period, many wealthy individuals on Wall Street took a break to recover. However, MicroStrategy CEO Michael Saylor was an exception. Saylor actively purchased Bitcoin and encouraged his wealthy friends to do the same.<\/p>\n<p>Today, the Bitcoin community is still waiting for miners to capitulate. So far, 61 days have passed, and the wait continues<\/p>\n<p>Feel free to share your thoughts on the topic in the comments. Additionally, you can follow us on\u00a0<a href=\"https:\/\/t.me\/coinengineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram<\/strong><\/a>,\u00a0<a href=\"https:\/\/www.youtube.com\/CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>, and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0for more real-time\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a> and updates.<\/p>\n<div id=\"gtx-trans\" style=\"position: absolute; left: 216px; top: -1.60938px;\">\n<div class=\"gtx-trans-icon\"><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Renowned cryptocurrency analyst Willy Woo recently shared insights on why Bitcoin (BTC) prices have yet to recover. In a recent statement, Woo discussed what is needed for Bitcoin prices to rebound. Woo explained, &#8220;When will Bitcoin recover? When weak miners capitulate, and the hash rate stabilizes.&#8221; Woo highlighted the current situation as unprecedented, noting that<\/p>\n","protected":false},"author":1,"featured_media":23094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[61,504,5831],"class_list":["post-23373","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-covid","tag-willy-woo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Renowned Crypto Analyst Explains Why Bitcoin (BTC) Price Hasn&#039;t Recovered Yet - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/renowned-crypto-analyst-explains-why-bitcoin-btc-price-hasnt-recovered-yet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Renowned Crypto Analyst Explains Why Bitcoin (BTC) Price Hasn&#039;t Recovered Yet - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Renowned cryptocurrency analyst Willy Woo recently shared insights on why Bitcoin (BTC) prices have yet to recover. 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