The Bitcoin price forecast of many analysts is bullish. The Bitcoin price is still in a sideways movement. After a setback to around USD 31,700, the first digital currency has recovered by a few percentage points and is now trading at just under USD 33,000. For Willy Woo, we are inevitably in a bull market despite weeks of unspectacular price movements. He therefore expects high price gains.
Will the Bitcoin price now fall to 10,000 USD? Or only to 24,000 USD after all? Will the price even rise into new spheres of 135,000 USD to 450,000 USD – as analyst PlanB predicts for the end of 2021? Bitcoin price predictions have been a part of bitcoin since its invention and will probably be forever. Everyone seems to have the crystal ball with the right answer in this case.
The number of self-proclaimed experts and analysts has grown at a similar exponential rate as the Bitcoin price in recent years – probably even more so. Therefore, many Bitcoin price predictions should be taken with extreme caution. After all, as with all other investments, trading cryptocurrencies is fraught with risk. As troublesome as these forecasts can be, they are also important to see what the stance is on the current situation. And technical chart analysis does have a raison d’être, after all.
Bitcoin price forecast by Willy Woo also bullish
Willy Woo has been able to make a name for himself in the crypto market in recent years. All the more exciting is his Bitcoin price forecast. This he announced in an interview with Anthony Pompliano. Thus, Woo expects a Bitcoin price in the six-digit range.
For Woo, it is quite clear that we are currently in the middle of a bull market despite a sideways movement with a slight downward trend. Therefore, it is only a matter of time until the Bitcoin price rises noticeably again. As soon as a trend reversal sets in, Bitcoin could rise to a price of up to USD 157,000, according to his analysis. This would more than double the current all-time high of USD 64,800 (April 14).
For the trend reversal, however, it is important that the Bitcoin price initially remains above the 42
.000 USD manifests itself. Only then is the next bull run likely. Whether and when this forecast will come true remains to be seen. But especially in phases where not much happens chart-wise despite a lot of crypto news, positive forecasts certainly contribute to many people’s hodl strategy.
Trade on the world’s leading social trading platform!
Join millions of people who have already discovered how to invest smarter by copying the best investors in our community or being copied themselves and earning a second income. Start now!