Don't expect another Bitcoin price 'catastrophic dump'

Bitcoin price trajectory is looking to favor bulls going forward, statistician Willy Woo believes as the market nears $11,000.

14, Woo highlighted strength in market composition and said that current price levels could be a useful entry point for investors.

Woo: Little chance of "Catastrophic" BTC price dump.

"It's very unlikely we'll see any kind of a catastrophic dump in price from here."

Monday saw a bounce higher towards $10,800 - a price point which analysts have already said forms a crucial pivot for further bullish momentum.

Bitcoin on-chain activity vs. BTC price 6-month chart.

Countering their optimism is the chance that Bitcoin will still drop to fill the lower of two gaps in CME Group's Bitcoin futures market at $9,600.

As Cointelegraph reported, various sources are demanding a fresh shake-up in BTC price action after the rejection at $12,000.

For PlanB, the quant analyst behind the stock-to-flow family of price forecasting models, the time is right for Bitcoin to follow historical precedent and launch towards $100,000.

Bitcoin difficulty ribbon vs. price historical chart.