The BTC / USD pair could hit $ 300,000 in a year, Woo explained.
Bitcoin ( BTC ) could reach $ 300,000 in a year, according to well-known statistician Willy Woo.
On December 1, Woo stated on Twitter that he was „never so optimistic“ about the Bitcoin outlook for 2021.
Woo expects „increased bullish feedback loop“
About the possible price development, he said that he expected six-digit numbers by December next year.
„My top forecast, which predicts US $ 200,000 per BitQT by the end of 2021, looks conservative. US $ 300,000 is not excluded,“ as it says in one post.
„The current market paid an average of $ 7,456 for its coins. You are all geniuses.“
Woo used his technical top cap indicator to make this forecast. Although it is at Top Cap according to his analysis website Woobull an „experimental“ model is the model, the price spikes could accurately predict in the past.
He regards the declining BTC stock exchanges on the spot exchanges as a sign that a bullish price development will be promoted in the next twelve months.
„I’ve never been so optimistic about 2021,“ he wrote.
„This renewed accumulation phase coincides with the decrease in stocks on the spot market. This is about twice longer and lower than in the previous cycle. This will cause BTC to rise.“
After all, the dollar growth in Bitcoin’s market cap for every dollar invested in that cycle has outpaced the 2013 and 2017 bull runs.
„Everything indicates that reflexivity is increasing; an increased feedback loop in 2021,“ concluded Woo.
Is anyone pessimistic about 2021?
As Cointelegraph reported, Woo is by no means alone with his optimistic outlook for Bitcoin after 2020.
Over the past two months, the price forecasts have become increasingly ambitious. The assessment by quantum analyst PlanB from December 2021, who predicted $ 100,000, now even looks very modest .
Other well-known personalities, such as the investor Mike Novogratz, are now making forecasts public. Novogratz told actress Maisie Williams last month that the BTC / USD pair would climb to $ 20,000 and then to $ 65,000. Williams then also invested.
The „Realized Profit / Loss“ indicator made a very ambitious forecast of $ 590,000 .