Crypto analyst Willy Woo says that Bitcoin will hit $157k soon. Check out the complete details about his prediction below.
It’s been revealed that in a new interview with Bitcoin bull Anthony Pompliano he said that based on on-chain data, he believes it’s only a matter of time before BTC hits the next phase of its bull market.
We’re in a bull market
“This is a bull market. There’s no mistaking this. We’ve got X-ray vision on what the investors are doing, and it’s bullish whilst price is sliding downwards. I think the next major event is when the fundamentals squeeze price action, and we break out of this what I’d call re-accumulation band right in the middle of a bull market.”
He pointed out the fact that this model is flashing a new price target for Bitcoin at $157,000.
“If we squeeze out of this accumulation band like I’m expecting, I would say that we will start curving upwards into the $250,000 to $350,000 range. Sounds a bit ludicrous right now, but that’s what the model says.”
He also pointed out the fact that he does not know what will happen to the crypto market once we enter the last quarter of the year.
“I’m not predicting, waiting for some event in the end of the year. I’m more like using on-chain as a map to try and get a grasp of what exactly is happening in the market. I have no idea what’s going to happen in the fourth quarter.”
Make sure to check out the video above in order to learn more details about what Woo had to say.
At the moment of writing this article, BTC is trading in the red and the king coin is priced at $31,781.56.
Stay tuned for more news and make sure to check out the crypto market to see the latest prices.