The closely-followed crypto analyst Willy Woo says that Bitcoin (BTC) prepared for a rally to new all-time highs (ATHs) as we enter a new year.
In an interview on the What Bitcoin Did podcast with Peter McCormack, Woo explains what he thinks of the leading Cryptocurrency expected in 2022.
Looking at the types of price hikes Bitcoin can make historically, Woo points out that a surge in BTCs is current ATH around $ 69,000 to, for example, $ 100,000 would be “nothing”.
“Of course we hit an all-time high.”
“If we really break the all-time high, we’ll run through them [fibonacci levels]…
Let’s face it, $ 69,000 to $ 100,000 is nothing.
It’s only a 50% gain for Bitcoin, which it does pretty easily. “
When specifically pushing what heights Bitcoin’s all-time highs could reach by 2022, Woo points to the Stock-to-Flow (S2F) model, which predicts the price of an asset by measuring the amount of new supply that will hit the market , compares it with the existing offer.
The on-chain analyst says the S2F should act as an anchor for Bitcoin as the price goes up and down but remains at the $ 100,000 level in the long run.
“I would say we will be right in the middle of it,
It’s like $ 100,000 by the end of next year.
And whether we whip up or down it could go a lot higher and come back
But about the center line is somewhere around $ 100,000. “
Bitcoin is currently trading at $ 51,769.81, up 3% over the day but a decrease of about 25% from its ATH.
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Source: Crypto News Deutsch