Bitcoin Could Surge Above $300k, Analyst Says

At the moment of writing this article, Bitcoin is trading in the green, and the most important coin out there is priced at $38,268.78.

There are all kinds of predictions about the price of Bitcoin these days, and most of them are pretty optimistic.

Bitcoin’s bull run is just getting started

For instance, Bitcoin bull and analyst Willy Woo recently explained why he believes the BTC bull run is just getting started.

During a new interview on the Unchained podcast with Laura Shin, Woo says that according to his Bitcoin Top Cap Model, the king coin is set to hit a six-figure price.

The Top Cap model is a price-prediction mechanism based on moving averages, as the Daily Hodl reports.

“Essentially, the Top Cap model is a model that uses the theory of mean reversion. And in simple language, what that means is that it’s a theory that the price of an asset always reverts to the long-term average of the entire history of the data set…” he said.

He continued and also said that “We don’t know how it [Bitcoin] will trade through the next 12 months. But you can gauge it from historical sort of movements of Bitcoin price and make a guess of where the arc is going…”

Woo also made sure to point out the fact that “If we don’t arc upwards and we assume the top of the bull market is around December this year. Which, you know, it’s a fair estimate because all the bull market tops of the last two cycles have been around December, just before tax season.”

He said that considering the size of this rally, BTC will be pushed even above $300k.

Check out the video above in order to learn more details about what he had to say. Also, stay tuned for more predictions.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.