Willy Woo | Until when will the bull market in bitcoin last?
Willy Woo | Until when will the bull market in bitcoin last? Willy Woo | Until when will the bull market in bitcoin last?

During a recent interview, well-known and respected analyst Willy Woo was tempted to project until when the current bitcoin bull market would last.

The bitcoin rally would last until 2022. Woo said his observation is based largely on supply and demand data, indicating a phase of accumulation by investors. CryptoQuant’s data

also indicated a buoyant bull market based on the current valuation cycle. After looking at historical data, Woo noted that, to reach its peak, accumulation by long-term BTC holders would take another month or two.

Moreover, this is likely to have a positive impact on the price in the coming months. CryptoQuant ‘s analysis

complemented Woo’s prediction that BTC has not yet reached its end-of-cycle peak. Woo predicts that the market may start losing strength from December onwards. However, he added that:

“I think it’s a good chance that we’re not going to enter what we think is a traditional, down market for BTC, which generally involves a huge decline of about 80% of its value…”

No more volatility characteristic of halving cycles?

Woo assumes that as the market matures over time, more price stability will follow. This is a market that could help bitcoin break out of the “four-year cycle” rhetoric. Woo said bitcoin may find its fair value and may not replicate the price action of the past three cycles.

A typical bitcoincycle

generally consists of four phases: rally, correction, accumulation and recovery. Woo confessed,

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“I don’t think we’re going to have … these normal four-year cycles again. I call it the ‘last cycle’.

Another aspect that prolongs market maturity is the number of investors. It can help reduce volatility with high range boundaries. According to Woo, BTC is on its way to one billion users by 2025, which is equivalent to the number of Internet users in 2005, based on “the projected number of bitcoin users worldwide expressed in Internet years.”

<blockquote class=”twit

ter-tweet”>Here’

s the projected worldwide bitcoin users expressed in Internet years:

Internet

1997 = Bitcoin 2021
Internet 2005 = Bitcoin 2025
Internet 2010 = Bitcoin 2028Here

‘s how the Internet changed… pic.twitter.com/CzrE83JVMJ-

Willy Woo (@woonomic) August 26, 2021

Is bitcoin too expensive for new users?

Another obstacle to widespread adoption of BTC is its price. Bitcoin has had a solid year, with April bringing a record high of over $64,800.

Woo mentioned

that the logical way to think about the price is to look at risk and reward metrics instead of the price itself. According to his analysis, BTC’s Sharpe Ratio has beaten any other asset class over the past four years.

A recent Bloomberg report

also brings optimism for the BTC price. According to its contents, the king of cryptocurrencies could cross the $100,000 mark:

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“In addition to growing demand and adoption, a key bullish factor for the price is that 2021 is the year after the supply reductions that have characterized the best performance to date.”

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From the Editor

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