Topic: Willy Woo: Bitcoin ‘Almost Certainly’ Reaching Six-Figures in H1 2022 - page 2. (Read 285 times)

I kept hearing them talk on youtube channels, Woo had been a long-time speculator along with Raoul Pal in which they usually do.  

You may not call it a bull run but it's a gradual rise of value. Big companies and even a government like El Salvador are accumulating BTC, just recently Bukele announced they bought another 420 BTC. What they are saying could be true if I just relate the situation of what is going on in every corner of the globe having a troubled economy which most of the rich people will be turning to BTC.

If by "top" you mean he makes some noise on social media then you are right.

I'm not sure who started this "on-chain data" crap that everyone these days who can't speculate uses the term to justify their crazy predictions whether it is a big rise or a big drop! But this is just another useless buzzword that is being thrown around a lot nowadays.

As for 6 figures it is too ambiguous just like the "on-chain" crap because it starts at $100k and can be up to $1 million. or in other words he is predicting a rise between 60% and 1560%.

These two are also contradictory.
You can't call it a bull market if there is only 50% rise in 8 months (6% per month!!!). 50% rises in a bitcoin bull market happen in 1 month tops. The last 50% rise we had (from $46k to $57k) took only 19 days!

The growth of Bitcoin largely for this year and can be true with 2022 is driven by big investors and not anymore with retail investors as we saw in 2017 when Bitcoin came into the mainstream consciousness when it reached momentum after momentum. Now, the market is changing and because we now have big and moneyed investors the consensus is that they are mostly likely to stay and hold for a long time...and not easily be affected by any FUD coming from somewhere unlike before when the marketplace can be reacting even to a non-sense comment from someone who is considered as known and authoritative in some way. So I would agree that bullishness can continue even into 2022 and most especially if the $100K barrier can be reached.

What strikes me about this is that I am seeing more and more predictions that the bull market will extend into 2022. If this cycle were to follow a pattern like the previous ones it would end in December of this year or January 2022. This has its logic in the pattern following the halvings and assuming that the regularities are going to repeat themselves, but it does not necessarily have to be that way.

If the bull market were to extend well into 2022 it would be good news for us.

The question is - can it hold above six figures? If it will reach $300,000 and then only crash to $100,000 it would be a very remarkable achievement, because it would mean Bitcoin is becoming less volatile in terms of the minimum and the maximum of its cycles. If this bull run is driven by institutional investors and rich people, maybe it is possible, because they will be less likely to panic sell.

6 figures is about a 55% increase from the current price, which is very possible with the next 6 months to a year. Over the past six months the price has grown over 100% after the dip from $60k, making 50% very realistic.

I wouldn't necessarily say they were replaced, they were rather joined by higher net worth individuals and companies looking to get exposure into Bitcoin. Early birds drove the price from nothing to as high as $20k before it became a serious topic at board meetings

Institutions are taking great advantage of all the collectible BTC they get whenever a correction takes place. With MicroStrategy adding additional 9k BTC stash to their treasury during Q3 alone, I believe these institutions are highly optimistic about the future of BTC and are not here just for the sake of their monetary benefits. If such accumulations will continue like this, a 6 figure won't be an issue for BTC as when it can get over $65k again after breaking back under $29k, anything is possible for BTC to achieve.

Top crypto commentator and on-chain analyst Willy Woo says that Bitcoin’s bull market could extend for another year following the recent push in accumulation.
During in an interview for an episode of the “Bitcoin Fundamentals” podcast, which is hosted by Preston Pysh, Woo noted that long-term Bitcoin accumulators are more wealthy than ever, particularly when compared to previous bull cycles.
Woo said the glut of high-net-worth investors is positive for Bitcoin’s price outlook, putting a significant amount of buying pressure on $BTC that could extend long-term.
According to Woo, the previous generation of Bitcoin holders were replaced in the fourth quarter last year with “high-net-worth purchasers” that drove the price higher with accumulation.
As reported by The Daily Hodl, he told Pysh:
"[These investors] were family offices, high-net-worth individuals that were buying significant [amounts], like $1 million exposure at a time. So they weren’t retail, and they were buying and buying and buying. "
Woo predicted that the new crop of investors would push Bitcoin’s price past $100,000:
"We’re at that point now where all the new guys that bought in during the first half of this year, they’re now long-term holders and they’re at peak. They’re providing the lock-up that’s necessary to drive us into the six-figure [level]."
As far as giving a timetable, Woo cited on-chain data that points to Bitcoin’s bullish cycle extending for another year, with the price reaching six-figures within the next six months. He said a 50% price increase would “almost certainly” occur before the midway point of next year, if not “probably much sooner” before the close of 2021.


Source: https://www.cryptoglobe.com/latest/2021/10/willy-woo-bitcoin-almost-certainly-reaching-six-figures-in-h1-2022/