Only 19 years old, Clemente is considered an up-and-coming analyst. He bases his Bitcoin price forecast on a technical chart analysis and a few other facts. Among other things, he says a supply shock is expected soon – triggered by heavy corporate buying and newly created whales.
“The trade has been buying heavily for weeks, but we finally have the upswing in whales we’ve been waiting for. There were 17 new whales born on the blockchain this week, while at the same time total whale inventory increased by 65,429 BTC.”
The current types of buyers are not known for selling bitcoin back quickly, he said. This, he believes, will inevitably lead to another breakout to the upside due to the simple principle of supply and demand. He expects the biggest move since it hit its all-time high of $64,000 in April 2021.
Bitcoin price forecast coincides with statements from Willy Woo
Will Clemente also sees similar to Willy Woo, who had expected a Bitcoin price explosion up to 200,000 USD, that the current user growth on the Bitcoin network speaks the clearest language. In previous years, user growth would quickly decline after a bull run -just panicked and new investors usually sell quickly afterward.
That’s not the case this time around. Despite the 50 percent drop since April, user growth continues to be huge. Nearly 40,000 new users have been welcomed to the Bitcoin network, even though the current BTC price is not in a period of increase as it was in the months before.
Bitcoin is still not moving
For about two months now, nothing has happened with the Bitcoin price. Currently, the largest cryptocurrency is trading at USD 34,400 with a market capitalization of approximately USD 643 billion – followed by Ethereum (ETH) with USD 2,150 and USD 250 billion respectively.
With the exception of a few swings towards USD 28,000 and USD 42,000, the Bitcoin price is thus stuck in the USD 35,000 range. Much
e analysts, who also expect a rise in their Bitcoin price forecast, have expected a phase of consolidation, however. Expects analyst PlanB, for example, that only in August again a rise is to be expected, before the courses are to fall again in September.
But especially from November, the Bitcoin should finally take off again – also fueled by Taproot upgrade. Analyst Robert Kiyosaki also sees a huge rise coming in the long term – but this will be preceded by the biggest crash in history
. It remains exciting to see in which direction the Bitcoin price will move.