Bitcoin (BTC) is aiming for at least $ 100,000 in a bull market cycle that has begun, according to one of the industry's most famous analysts.
Speaking on the RT financial news show Keiser Report On March 3, Willy Woo described the BTC price of US $ 135,000 as a “normal prediction”.
Woo: BTC could soon conquer $ 250K
Woo emphasized the cumulative average Bitcoin price is a particularly effective measure to predict future gains.
"You can increase by 35 times the cumulative average of prices – and that really picked every single peak in Bitcoin's 10-year history, right now it's sitting above $ 50,000, but it keeps going up. for longer, "he told host Max Keiser.
With the explanation that Bitcoin has declined and flows in a 4-year cycle of halving, Woo likens the new high of the BTC price to the wave motion of water in a bathtub.
"If you guess well, it is above $ 100,000; I think one of the more usual predictions will be around $ 135,000 based on the time period and the 35x average limit, "he explained.
“I'm expecting $ 100,000 to $ 250,000 depending on the time this bull market takes place.”
Optimism engulfs price doubts
Woo's statement came at the time the BTC / USD pair continued to trade at the 200-day moving average after a sharp decline in a week.
A sudden but suspicious growth in traditional markets failed to make Bitcoin any better, which made one who hated the king continued to sarcasm, he said that the price actions of BTC in the year 2020 will only exist for a short time.
At the same time, some industry data gave a vibrant forecast for the rest of the year, while a technical forecast showed Bitcoin's current price performance was exactly scheduled before the halving event. takes place next May.
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According to CoinTelegraph
Translated by ToiYeuBitcoin