New Bitcoin price concerns from JPMorgan at odds with ‘immense support' at $52K

(BTC) is seeing a tsunami of new user adoption as a backdrop to prices likely bottoming at around $52,000, say analysts.

In a series of tweets on April 20, statistician Willy Woo led calls for calm about Bitcoin's recent price dip and subsequent lingering $9,000 below recent all-time highs.

Chart showing Bitcoin support strength at a $1 trillion market cap. Source: Willy Woo/ Twitter
Bitcoin entity growth vs. . Source: Willy Woo/ Twitter