There’s no question that Bitcoin (BTC) will hit $ 300,000 in just one year, says well-known statistician Willy Woo.
In one Series of tweets from December 1st Woo said he has “never been more optimistic” about Bitcoin’s outlook for 2021.
Woo sees “increased bullish feedback loop”
Discussion of possible price developments, confirmed that he was seeing six figure amounts for December next year.
“My top model who suggests A price of $ 200,000 for BTC by the end of 2021 seems conservative; $ 300,000 is out of the question. “said a post.
“The current market paid an average of $ 7,456 for its coins. You are all geniuses. “
Woo used his Top Cap technical metric to come up with the forecast. Although Top Wo is referred to as “experimental” on its Woobull Analytics website, it has hit the top prices exactly in the past..
He continued to watch The decline in the amount of BTC on the spot exchanges as a sign that a bullish price move would catalyze over the next twelve months.
“I’ve never been so optimistic in 2021”wrote.
“This re-accumulation phase coincides with the depletion of stocks on the spot market, which is roughly twice longer and deeper than the previous cycle. It will send BTC. “
To the last, The dollar gain in Bitcoin market cap for every dollar invested in this cycle has surpassed the bullish increases of 2013 and 2017.
“Everything points to increased reflectivity; increased bullish feedback loop in 2021”Woo closed.
Is anyone pessimistic about 2021?
As Cointelegraph reported, Woo is far from alone in his optimistic outlook for Bitcoin after 2020.
Sky-high price predictions have skyrocketed in the past two monthsQuantum analyst PlanB’s estimate of USD 100,000 for December 2021 now looks extremely modest.
Beyond technical circles, well-known personalities like series investor Mike Novogratz have begun to bring price predictions into the mainstream.. In Novogratz’s case, he told actress Maisie Williams last month that BTC / USD would go for $ 20,000 and then $ 65,000. Williams then invested.
This week meanwhile A huge price prediction of $ 590,000 has been courtesy of the Realized Profit / Loss metric, which has returned to its classic bullish starting position.