Willy Woo: How Bitcoin Reaches up to $300,000 by End of Year - Ep.207
Willy Woo, a prominent on-chain Bitcoin analyst and author of the “The Bitcoin Forecast,” a market intelligence newsletter, explains the parabolic activity of Bitcoin in the past month. We cover:
- why he thinks Bitcoin has more than doubled in the last month
- what the "double pump" market is and why Bitcoin may see two rallies this cycle
- what stage of the Bitcoin bull market we are currently in
- who is buying, and how they've differed from previous investors
- who still is yet to buy this cycle
- why Bitcoin hitting new all-time highs mean that we're in "uncharted price discovery"
- how his "top cap model" shows Bitcoin could be around $95k by end of year
- and how if certain trends accelerate, it could reach $200,000-$300,000 by year's end
- how the pandemic impacted Bitcoin’s price
- what on-chain movements he's seeing that make him call the current cycle of Bitcoin "whale spawning season”
- how to gauge the increasingly rapid investor activity
- what to expect from Bitcoin and Ethereum in 2021
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Episode links:
Willy Woo: https://twitter.com/woonomic
Woobull.com: http://charts.woobull.com
Willy on Unconfirmed: https://unchainedpodcast.com/willy-woo-on-why-its-an-extremely-great-time-to-buy-bitcoin/
Fibonacci traces tweet: https://twitter.com/woonomic/status/1347433551906500614?s=20
Bitcoin reflexivity: https://twitter.com/woonomic/status/1344189627997949952/photo/1
Who has been buying recently: https://twitter.com/woonomic/status/1347127159538688002?s=20
Double pump bull market: https://twitter.com/woonomic/status/1346889817792004096?s=20
Buying by long-term holders: https://twitter.com/woonomic/status/1346827893322616833/photo/1
What percentage of the Bitcoin supply is liquid: https://insights.glassnode.com/bitcoin-liquid-supply/
Premium above NVT Price: https://twitter.com/woonomic/status/1346797291668029440/photo/1
Accumulation of BTC before the OCC announcement: https://twitter.com/woonomic/status/1346296294797582336/photo/1
Will never see a $20k BTC again: https://twitter.com/woonomic/status/1345660018541019138?s=20
Bitcoin as investment vs. tech: https://twitter.com/woonomic/status/1345221723751206912?s=20
NVT Ratio: http://charts.woobull.com/bitcoin-nvt-ratio/
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