Two high profile analysts, Willy Woo and PlanB share their opinions about the current bull run. Both agree on the point that the bull run is just started and there is a lot of room to grow further.
Willy Woo Interview
Woo sat with The Investors for an interview and talked about the future of Bitcoin, the largest cryptocurrency by market volume. He told the Podcast’s host that accumulation is going on at an aggressive rate, and whales are busy storing the top digital asset. On the other hand, retail investors are minimum in numbers at the time, but they are also joining the current bull run. When retail members enter the market, the crypto volume of the spot crypto exchanges will jump high.
Investors, especially those holding up to $40 million in Bitcoin, are also surging in numbers, thanks to the acceptance of the crypto by Tesla.
In his interview, Woo also predicted that the value will not go below $30,000 ever again because it’s getting mainstream position and room for volatility is shrinking. However, some analysts forecast $22,000 for the leading cryptocurrency, but the Woo has a firm belief that the level of $30,500 is a hard floor from where the price will not plunge further.
PlanB’s Two Models
PlanB, famous for his stock-to-flow model, endorses Woo’s claim that Bitcoin’s bull run is turned on. According to PlanB, the long-term bullish cycle started in November 2020. And the bull cycle is still in the baby phase, and it still a “half year to go.”
He worked on two different models, S2F and S2FX, for Bitcoin’s future price prediction. As per the S2F model, the value will touch $100k while the price will claim $288k on following S2FX. What’s more, he explained that if the 2021 bull cycle tracks 2017 bull run, the BTC price could reach $100k. If Bitcoin current bull cycle follows 2013, then the price could touch as high as $288k.
Many renowned personalities have praised PlanB’s stock-to-flow as it explained a lot about Bitcoin’s price.
Crypto analysts are extremely bullish and celebrated the event when price touched the most hyped $50,000. At press time, the high flying digital asset is trading at $48,137 after a slight decrease of 2.6% in the past 24-hours.