Popular network analyst and market commentator Willy Woo says the bullish race for Bitcoin is far from over.
You comments Willy Woo’s comments on Bitcoin were made while he was recently being interviewed by Brett Messing, President and COO of SkyBridge for episode 208 of SALT Talks. It is interview was published on April 29 on the SALT on YouTube.
Here’s what he said about the current Bitcoin bullish run:
“We are seeing a net flow of currencies from participants who traditionally speculate or buy in the short term and then sell – perhaps they are like traders who trade in and out of altcoins – but essentially these new people… they are just buying and saving the coins. This has been a major driver of this booming market, which has shown strong purchases …
“Much of the conversation has been about institutional investors. That is true. But also, I think there are a lot of high net worth investors coming here to buy it in lots of $ 1 million with each purchase. We saw this very strongly in the first two months of 2021. “
As for his price forecast for Bitcoin at the top of this bull market cycle, he said:
“Essentially, this gives us a little push in the price, if you have half the selling power of the new currencies being extracted, you get a bullish momentum and in all previous cycles it seems that this bullish momentum is manifested in this preparatory period madness . The last one was in 2017, [ele] took us from $ 1,000 to $ 20,000.
“So, in December, [com base] on my top-cap model: it can be anywhere in the range of $ 300,000 to $ 400,000, it can even go further. But we need to see your performance in the next six months. “