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

Now that some time has passed, it's easy to see that Woo was wrong about the potential stability that high-stake investors would bring to the market. Big investors already entered the market, and yet we see the price being less than $45k. If they didn't prevent the drop, why would they be capable of bringing Bitcoin to a new level?
I do believe that $100k is a very reasonable prediction (by the end of 2022, though, not by June) because it's less than 2x from Bitcoin's previous ATH, and the year has only started. I just don't think this can be explained by a new kind of investors who possess a lot of money.

I think it is possible to rally that much, but I still want to see it reach 70k or even 80k first. Last time around it could not quite reach 70k, as far as I remember.

There is never a time that you would see people not being bullish about the price of Bitcoin. Every time, even when it is clear that we are in a bearish market, you would still see people who are saying that there is going to be a bull run. The bull run will come, but it is not going to be something that would happen soon. It has already happened, and it is something that takes time.

When it Comes we are surely going to see a bullish trend in the market. But for now I think it is over. Maybe it’s going to be like this until we see another halving take place. But before we see the next bullish trend, the price of Bitcoin will still continue to be going up and down around this price of $30k to $40K or maybe a bit above that.

Those who are in for long term these bullish or even bearish predictions should not matter. However, they are many newbie or short term investors who will jump into the bitcoin market after seeing these words from famous personalities. If everything goes as per their words, then it is good for everyone but if bitcoin fails to move towards these targets or started to move in the opposite direction (dump), then these people become dishearted and quit in the loss.

That is right, anyone who has planned to hold his Bitcoin for a long term shouldn’t even bother about all these predictions that are being made in the market. If you have plans that you are going to hold your coins for a long term, then there is every possibility that you are going to make profit from it especially if you have invested now that the market is low. Because, in the next few years to come the market will surely start increasing in value, and that would be a profit for you when the time comes. So anyone that has plans to hold for a long term, now would be the perfect time for them to start.

My simple logic is - if am here for the long term then why worry so much if these predictions occur sooner because we all know they definitely will occur later, btc is just getting started, making price predictions every year to see where the price will be is the reason why we have too many get rich quick investors, once these predictions didn't happen as they expected people get disappointed and result in selling.
Am positive btc will perform well this year, probably a new ath, whatever the price will be am cool with it, now is time to accumulate.

To defend Willy, this guy was saying that we'd go to a new ATH soon, when Bitcoin was trading in the 3-5k range 3 years ago. He's a permabull but a permabull that actually was right for many years about us reaching new highs, back when not many people were bullish. If some of you listened to him, you won't be here on the forum complaining about prices, but thinking how to spend your 10x profit.
I like how positive he is, that's for sure. He can be wrong of course, but what if he's not? Can you actually afford not to own bitcoin right now?

IMO every single person in the world should invest 1% in BTC because there's a high probability that it will go another 10x from current price. If it doesn't than what's the worst thing that can happen before you're able to react? -50%? That's half of your 1% gone. You can take it, any of us can. What's the best thing that can happen? $300k bitcoin after next halving? Show me any investment that can offer comparable results.

Personally I'll always prefer to take a chance to get 700% or lose 50% over a steady 5% a year. It's not an investment for going all in, but at the same time not something you want to ignore, especially if you're a young person starting your career.

I agree that there are some better analysts out there, who are more realistic on looking at the market. Again, Woo is predicting a value of btc this year that is still very far from where we are now, he needs to consider that we are just gaining momentum and trying to surpass the 45k level again. 6-figure is very nice but this year? But this is good for crypto holders, he's giving a very optimistic approach towards bitcoin. However, holders should act according to their own instincts as it might affect their investments.

I want to believe this but Willy Woo was telling us we’d hit 300k last year. I have lost respect for him, even a broken clock is right a couple of times a day. There are much better analysts out there with better hit records. Even Plan B was wrong though in the end, maybe TA is just bull shit.

We hoped that bitcoin would reach a price of one hundred thousand dollars by the end of last year or at the beginning of this year. But we cannot take into account in our forecasts the negative events for the cryptocurrency that periodically occur in our world, regardless of our desire. The ban on cryptocurrency mining and circulation in China, calls for a ban on cryptocurrency mining with an energy-intensive PoW algorithm, the threat of a ban on cryptocurrency circulation in Russia led to a sharp drop in prices in the cryptocurrency market and our optimistic forecasts are postponed to a later date.

I think it would definitely be able to hold above six figures considering current supply issues, inflation and pandemic situation. The price is likely bound to explode soon and stay above ATH. The conditions allow for it to happen, and I believe we're actually most likely underestimating what it can do under this economical situation!

so far bulls extended only speculative. there's no sign of it happening yet. but if we talk about bitcoin price hitting 6 digits next year, i think it's still possible. the increase in new investors, being one of the reasons. and so far no bad news about crypto and bitcoin(I hope there won't be any in the future). The NFT hype has played an important role in attracting new investors so far. many people don't know much about crypto, but start buying NFT. and if this hype still lasts until next year. I'm sure 6digits makes a lot of sense.

Its hard to get away from the historical past of 2017 and the mass exodus at the then
ATH leaving the Bitcoin market at the hands of the bears but we are 4 years on and the
market is different with a different mix of investors and also a different outlook,
There is a lot of talk about this current market trend extending into 2022 so there
is a big chance it will be a self fulling prophesy.

Regardless of the percentages the outlook is predominantly positive.

Expect the unexpected. This is why I love the Bitcoin market, the market is really unexpected. When Bitcoin lost more than 50% after the previous all-time-high around $64,000 a few months ago, and it dumped to $30,000 below, a lot of people it was already the bear market, but look at now after a few weeks, Bitcoin is back again updating the all-time-high.
It's just a sign for me that bull run is still not yet done.

If you look at what pace the capitalization of the general cryptocurrency market is increasing, as well as the level of popularity of bitcoin among cryptocurrencies, then of course, you can easily come to the conclusion that bitcoin may well reach a price of one hundred thousand dollars either by the end of this year or in the first half of next year ...
This is also facilitated by the deterioration of the general economic condition of states due to unprecedented measures to combat the coronavirus pandemic and the rise in inflation in all states, as well as an increase in people's interest in cryptocurrency.

You are right, it would be a bull market but in bitcoin world we tend to see much faster and bigger bull markets. The only time we see slow rises is when there is a trend reversal for example when price reached the bottom at $3100 back in 2018 we saw the bear trend end and the bull trend start but it took a long time to reverse and when it did reverse the rises started happening a lot faster.

I personally consider this ongoing bull market to have started on first week of April 2019 when the $4k resistance was broken. That means in the past 2.5 years (31 months) we have seen 2061% rise which is 66% rise per month on average.

Saying the next 50% in a strong ongoing bull market would take 8 months sounds highly unlikely to me.

I have said it before and will say it again, $100k USD is just that, USD it's a nice talking point but for many people it does not matter.
There is a lot of pressure at 60K USD thanks to those Canadians that are selling @ $75k CAD
How many people in GB are going to be selling at about 50K GBP which is about $70K USD?
Yes there is a lot of talking in USD and so on. But small investors are looking at preev.com in their local money not USD.
I *know* plenty of people who have their own number in their head and it has nothing to do with the US dollar.
Since they don't live here, they don't care except in the abstract that it is what people talk about.

-Dave

I would agree it's sooner. But imagine what would happen if it took longer and messed up next bear cycle predicted to happen in 2022. People would go nuts on buying it if the bear market didn't came after all the ta predicting it. It would be insane mania, like something world had never seen.

And yet, this is the first time I've heard that name!

It's quite strange seeing a so-called "on-chain analyst" talking about a type of data that's "off-chain"! He clearly based that assumption on a bunch of publicly reported/available data ^{[those are incomplete; therefore, they're inaccurate]}!

This is the first time I've ever seen someone labeled or rather referred to less than a year hodlers, as "long-term holders".

But wouldn't it still be a bull market period if the price is progressively going upwards over a long period of time with only intermittent drops here and there, followed by quick recoveries?

A lot of people would say we've been in a bull market since late 2020 when the price first stated rising up till this point; That's the same way a bear market would be an extended period of downward prices or little price movements, just as we had from 2018-2020, even though there were intermittent upward spikes, followed by dips.

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/