Well-known online analyst Willie Wu’s gripping statements continue. Based on the data he collected, he came up with a model that predicts that by the end of 2021 we might see Bitcoin at $ 300,000.
On Unchained, @woonomic covers everything on the BTC bull-run, saying why the price doubled in the past month, what price projections various models give, who is buying, and why there is an influx of hodling whales. Plus, he tells us what to expect in 2021.https://t.co/Cbwnfrjd4S
— Laura Shin (@laurashin) January 12, 2021
Wu took several parameters into account and developed charts illustrating the correlation between the price of BTC and Bitcoin on exchanges whose users participate in spot trading and tend to place orders for longer periods.
An important piece of data that Wu studies is the ratio of the market capitalization of bitcoin to the dollar, which has grown significantly over time. In 2012, this value was $ 2, in 2017 – $ 2.50, and in December 2021 it may reach $ 3.50 and more.
Considering that more and more institutional investors have entered the market lately and continue to buy bitcoins for the long term, it is obvious that they are thinking strategically. In contrast, traders tend to make small profits.
This leads to a reduction in the number of coins on various platforms, because institutional investors will be running for at least 10 years. Considering halving, it will be much more difficult to buy new coins.
After analyzing the above parameters, Willie Wu suggested that the asset could reach the level of 300 thousand dollars.
As it turns out, now not only analysts make price predictions, but actors as well. For example, Lindsay Lohan also decided to act as an expert, saying that by the end of the year, the bitcoin rate could rise to $ 100,000.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
