Bitcoin rate of USD 200,000 for 2021 „conservative“ – Willy Woo gives new forecast
It is not excluded that the Bitcoin price may reach 300,000 in 2021. At least that is what the well-known data analyst Willy Woo communicated in a tweet. He stated that he had „never been so optimistic“ about Bitcoin.
Bitcoin price next year over USD 100,000?
During the discussion about the possible price development he confirmed that he had to Crypto Trader expect six-digit figures by December next year.
„My top model, which proposes USD 200,000 per BTC by the end of 2021, looks conservative. 300,000 USD are not excluded,“ he said in an article.
The current market paid an average of USD 7456 for their Bitcoin. These are all geniuses.
Woo used his technical top-cap metric to make the forecast. Although Top Cap is what Woobull calls „experimental“ on his analysis website, he has in the past followed price caps closely.
Views on 2021 (THREAD):
My Top Model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question.
The current market on average paid $7456 for their coins. You all are geniuses. pic.twitter.com/5t1pHXwE0b
– Willy Woo (@woonomic) December 1, 2020
Increasing demand for BTC
He also saw the declining Bitcoin stocks on the spot exchanges as a sign that a bullish price movement would be catalysed in the coming twelve months.
I have never been so bullish for 2021.
„This rebuilding phase coincides with the depletion of spot market stocks, which will last about 2x longer and deeper than the last cycle. This will push BTC“.
Finally, the profit in USD in the market capitalisation of Bitcoin for every dollar invested in this cycle has exceeded the bull runs in 2013 and 2017.
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All are bullish
Willy Woo is by no means alone with his optimistic outlook for the period after 2020 with Bitcoin.
In the past two months, high price forecasts have developed strongly and rapidly, with PlanB’s December 2021 estimate of $100,000 per Bitcoin now looking extremely modest.
Beyond specialist circles, prominent figures such as investor Mike Novogratz have begun to bring Bitcoin price forecasts into the mainstream. In the case of Novogratz, he told actress Maisie Williams last month that BTC/USD would rise to $20,000 and then to $65,000. Williams then invested.
What heights the Bitcoin price will reach next year is still written in the stars. But the outlook is currently more than positive.