Popular cryptocurrency analyst shared his predictions for 2021. According to the analyst, the bull rally in 2021 will be very strong and Bitcoin will go up to $ 200,000.
Willy Woo, who came up with crypto money analysis, shared his predictions for 2021 on the Bitcoin price on Twitter. Willy Woo said that his price prediction model for Bitcoin is in line with current indicators. According to Woo, by the end of 2021, Bitcoin will go up to $ 200,000 but will not see $ 300,000.
“An average of $ 7456 was paid for each BTC in the current market. You are all geniuses. ”
“I’ve never been so bullish”
“I’ve never been this bullish,” points Willy Woo to the strong bull rally he awaits in 2021. he said and pointed to the amount of Bitcoin held on spot exchanges. The analyst, who showed that the decrease in BTC held between 2016-2017 was seen similarly this year, stated that the “re-accumulation” cycle coincided with the time when BTC held in stock exchanges fell. He then said that there has been a re-accumulation cycle about 2 times longer and deeper since the last cycle.
“It will send BTC.”
HODLers effect strengthened
Making a comparison by looking at past cycles, Woo stated that each dollar invested in BTC gradually increases the Bitcoin market value. This is an indication that HODLers are holding BTC more strongly in the market, according to the analyst. The analyst said about the chart where he shows the gain in Bitcoin market value per dollar invested:
“It was $ 2.00 in the 2013 bull rally, $ 2.50 in 2017, and I think it will be $ 3.50 or more for 2021.
All these signals point to the presence of an escalating and strengthening bull rally.
Have the lost Bitcoins taken into account?
A user on Twitter asked Woo if he was taking the lost Bitcoins into account. The analyst stated that he made measurements with “realized cap”.
Realized cap (after-sales value): According to Glassnode, realized cap is a variation in which the asset is evaluated based on the price at the time it was last transferred. With this measurement, the effect of lost assets is reduced and the evaluation is made according to the real assets on the chain.