Willy Woo on Bitcoin forecasts: US$ 200,000 by December 2021 now „conservative
The BTC/USD pair could reach $300,000 in a year, Woo said.
Bitcoin (BTC) could reach $300,000 in just one year, according to well-known statistician Willy Woo.
On 1 December, Woo said on Twitter that he had „never been so optimistic“ about the Bitcoin outlook for 2021.
Woo expects „increased bullish feedback loop
Regarding the possible development of the share price by Financial Peak, he said that he expects six-digit figures by December next year.
„My top forecast, which predicts US$ 200,000 per BTC by the end of 2021, seems conservative. 300,000 US dollars are not excluded“, he said in an article.
„The current market paid an average of US$ 7,456 for its coins. You are all geniuses.“
Woo used his technical top cap indicator to make this forecast. Although Top Cap is an „experimental“ model according to his analysis website Woobull, the model has been able to accurately predict price peaks in the past.
He regards the declining BTC stocks on the spot exchanges as a sign that a bullish price trend will be encouraged in the coming twelve months.
„I have 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 deeper than in the last cycle. This will cause BTC to rise.“
Finally, the dollar growth in Bitcoin’s market capitalisation has outperformed every dollar invested in this cycle the bull runs in 2013 and 2017.
„Everything suggests that reflexivity is increasing; a stronger feedback loop 2021,“ Woo concludes.
Is anyone pessimistic in 2021?
As Cointelegraph reported, Woo is far from alone in his optimistic outlook for Bitcoin beyond 2020.
Over the past two months, price forecasts have become increasingly ambitious. In fact, the December 2021 assessment by quantum analyst PlanB, which predicted US$ 100,000, now seems very modest.
Other well-known personalities, such as the investor Mike Novogratz, are now also making forecasts public. Novogratz told actress Maisie Williams last month that the BTC/USD pair would rise to $20,000 and then to $65,000. Williams subsequently invested as well.