He says himself that it “sounds a bit ridiculous at the moment” – but stick with it: Bitcoin will rise to six-digit prices after the reset. This assessment is shared by on-chain expert Willy Woo in a new interview.
Willy Woo:” X-ray view ” on investors
If you only look at the current BTC price to get an impression of the state of the crypto markets, this often does not give a complete picture. So-called on-chain analyses enable a more in-depth insight. These are in-depth observations of the flows moving towards and away from the blockchain. These flows usually provide a telling insight into the” health ” of the markets – and they provide an indication of whether we are in a bull or bear market.
One of the most renowned on-chain experts in the crypto industry now says in a new interview: Even if it may sound strange in light of Bitcoin’s weakening price action-but we are in a full-blown bull market. So outgrown that BTC, according to its forecast model, will rise to $ 157,000-at least.
The blockchain specialist in an interview with Bitcoin bull Anthony Pompliano:
“This is a bull market. It can not be overlooked. We have an X-ray look at what investors are doing, and that’s bullish as the price slides down. I think the next big event is when fundamentals crush price action and we break out of what I would call a re-accumulation band in the middle of a bull market.“
Woo expects to raise up to $ 350,000
The popular on-chain analyst calls a new Bitcoin price target of $ 157,000, but at the same time says: this is only a minimum value. Bitcoin could rise even higher as it continues its upward trend:
“If we get out of this accumulation band, as I expect, I would say that we will begin to move upwards in the range of $250,000 to $350,000. That sounds a bit ridiculous at the moment, but that’s what the model says.“
But Woo also emphasizes: This is not a prediction, but only what the data on the blockchain unmistakably suggest.
“I use on-chain more as a kind of map to get a sense of what exactly is happening in the market. I have no idea what will happen in the fourth quarter.“
Bitcoin to six-digit prices-the analyst is not alone in his assessment. Several on-chain experts emphasize that the markets are bullish, so to speak, “behind the scenes” and it is only a matter of time before the BTC bulls start to trample properly again.
You can check out Willy Woo’s full forecast here.
Last updated on July 14, 2021
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