On-chain crypto analyst Willy Woo estimates that Bitcoin’s price will experience a big rally in the first quarter of 2022. So, according to him, BTC should be interesting again in January and February.
In an interview with Scott Melker, also known as “The Wolf of All Streets,” analyst Willy Woo explained that the price of BTC could see a massive rise in the first two months of the new year.
Recently, we have seen a drop in the price of the oldest cryptocurrency on the market, accompanied by an accumulation phase. So the “momentum”, or momentum for Bitcoin’s price rally should be strong.
Bitcoin’s bull market is not over yet
Willy Woo explains that BTC has yet to complete its bull market. On the contrary, according to him, we are currently in an accumulation phase after a liquidation last May.
“This is the phase where everything is strong. This is the main phase of the bull market. We are not there yet, we are recovering and preparing. I don’t think we will be ready until 2022; the early phase, from January [et] February could be interesting ”.
For Willy Woo, the increasing accumulation of BTC by long-term holders indicates a strong trend. “If we look at the next six months, the price is structurally quite strong. What gives me confidence is the fact that really a lot of coins have been moved to long term holders, who have held their BTCs for five months or more, and have therefore reached maximum accumulation ”.
Currently, the price of Bitcoin is at 46,000 dollars and has already been in a little sideways movement since early December.
Brock Pierce plans $ 200,000 course in 2022
Equally optimistic is American entrepreneur Brock Pierce. Rising inflation and the constant printing of fiat currencies, he said, should help Bitcoin’s price reach new highs.
Mr. Pierce even estimates that the price of BTC will reach a five-digit value in 2022, and that it could briefly rise to a new all-time high of US $ 200,000.
“I wouldn’t be surprised if we saw the price of Bitcoin go over US $ 100,000. It is even conceivable that it will briefly exceed the $ 200,000 mark. ”
That said, Bitcoin’s price is not expected to be the only one to hit new highs, as the overall market cap of the cryptocurrency market is also on the rise. Jihan Wu, BTC billionaire and former Bitmain CEO, notably told Forbes:
“We believe that crypto and blockchain together will grow rapidly in the future to reach ten trillion dollars.”
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