Willy Woo: Bitcoin ‘Almost Certainly’ Reaching Six-Figures in H1 2022

[Leviathan.007]

Top crypto commentator and on-chain analyst Willy Woo says that Bitcoin’s bull market could extend for another year following the recent push in accumulation.
During in an interview for an episode of the “Bitcoin Fundamentals” podcast, which is hosted by Preston Pysh, Woo noted that long-term Bitcoin accumulators are more wealthy than ever, particularly when compared to previous bull cycles.
Woo said the glut of high-net-worth investors is positive for Bitcoin’s price outlook, putting a significant amount of buying pressure on $BTC that could extend long-term.
According to Woo, the previous generation of Bitcoin holders were replaced in the fourth quarter last year with “high-net-worth purchasers” that drove the price higher with accumulation.
As reported by The Daily Hodl, he told Pysh:
"[These investors] were family offices, high-net-worth individuals that were buying significant [amounts], like $1 million exposure at a time. So they weren’t retail, and they were buying and buying and buying. "
Woo predicted that the new crop of investors would push Bitcoin’s price past $100,000:
"We’re at that point now where all the new guys that bought in during the first half of this year, they’re now long-term holders and they’re at peak. They’re providing the lock-up that’s necessary to drive us into the six-figure [level]."
As far as giving a timetable, Woo cited on-chain data that points to Bitcoin’s bullish cycle extending for another year, with the price reaching six-figures within the next six months. He said a 50% price increase would “almost certainly” occur before the midway point of next year, if not “probably much sooner” before the close of 2021.


Source: https://www.cryptoglobe.com/latest/2021/10/willy-woo-bitcoin-almost-certainly-reaching-six-figures-in-h1-2022/

[Stedsm]

Institutions are taking great advantage of all the collectible BTC they get whenever a correction takes place. With MicroStrategy adding additional 9k BTC stash to their treasury during Q3 alone, I believe these institutions are highly optimistic about the future of BTC and are not here just for the sake of their monetary benefits. If such accumulations will continue like this, a 6 figure won't be an issue for BTC as when it can get over $65k again after breaking back under $29k, anything is possible for BTC to achieve.

[Upgrade00]

6 figures is about a 55% increase from the current price, which is very possible with the next 6 months to a year. Over the past six months the price has grown over 100% after the dip from $60k, making 50% very realistic.

According to Woo, the previous generation of Bitcoin holders were replaced in the fourth quarter last year with “high-net-worth purchasers” that drove the price higher with accumulation.

I wouldn't necessarily say they were replaced, they were rather joined by higher net worth individuals and companies looking to get exposure into Bitcoin. Early birds drove the price from nothing to as high as $20k before it became a serious topic at board meetings

[hatshepsut93]

The question is - can it hold above six figures? If it will reach $300,000 and then only crash to $100,000 it would be a very remarkable achievement, because it would mean Bitcoin is becoming less volatile in terms of the minimum and the maximum of its cycles. If this bull run is driven by institutional investors and rich people, maybe it is possible, because they will be less likely to panic sell.

[Poker Player]

What strikes me about this is that I am seeing more and more predictions that the bull market will extend into 2022. If this cycle were to follow a pattern like the previous ones it would end in December of this year or January 2022. This has its logic in the pattern following the halvings and assuming that the regularities are going to repeat themselves, but it does not necessarily have to be that way.

If the bull market were to extend well into 2022 it would be good news for us.

[DapanasFruit]

The growth of Bitcoin largely for this year and can be true with 2022 is driven by big investors and not anymore with retail investors as we saw in 2017 when Bitcoin came into the mainstream consciousness when it reached momentum after momentum. Now, the market is changing and because we now have big and moneyed investors the consensus is that they are mostly likely to stay and hold for a long time...and not easily be affected by any FUD coming from somewhere unlike before when the marketplace can be reacting even to a non-sense comment from someone who is considered as known and authoritative in some way. So I would agree that bullishness can continue even into 2022 and most especially if the $100K barrier can be reached.

[pooya87]

Top crypto commentator and on-chain analyst Willy Woo

If by "top" you mean he makes some noise on social media then you are right.

As far as giving a timetable, Woo cited on-chain data that points to Bitcoin’s bullish cycle extending for another year, with the price reaching six-figures within the next six months.

I'm not sure who started this "on-chain data" crap that everyone these days who can't speculate uses the term to justify their crazy predictions whether it is a big rise or a big drop! But this is just another useless buzzword that is being thrown around a lot nowadays.

As for 6 figures it is too ambiguous just like the "on-chain" crap because it starts at $100k and can be up to $1 million. or in other words he is predicting a rise between 60% and 1560%.

says that Bitcoin’s bull market could extend for another year following the recent push in accumulation.

He said a 50% price increase would “almost certainly” occur before the midway point of next year, if not “probably much sooner” before the close of 2021.

These two are also contradictory.
You can't call it a bull market if there is only 50% rise in 8 months (6% per month!!!). 50% rises in a bitcoin bull market happen in 1 month tops. The last 50% rise we had (from $46k to $57k) took only 19 days!

[cabron]

Top crypto commentator and on-chain analyst Willy Woo

If by "top" you mean he makes some noise on social media then you are right.

I kept hearing them talk on youtube channels, Woo had been a long-time speculator along with Raoul Pal in which they usually do.  

You may not call it a bull run but it's a gradual rise of value. Big companies and even a government like El Salvador are accumulating BTC, just recently Bukele announced they bought another 420 BTC. What they are saying could be true if I just relate the situation of what is going on in every corner of the globe having a troubled economy which most of the rich people will be turning to BTC.

[Upgrade00]

These two are also contradictory.
You can't call it a bull market if there is only 50% rise in 8 months (6% per month!!!). 50% rises in a bitcoin bull market happen in 1 month tops.

But wouldn't it still be a bull market period if the price is progressively going upwards over a long period of time with only intermittent drops here and there, followed by quick recoveries?

A lot of people would say we've been in a bull market since late 2020 when the price first stated rising up till this point; That's the same way a bear market would be an extended period of downward prices or little price movements, just as we had from 2018-2020, even though there were intermittent upward spikes, followed by dips.

[SFR10]

Top crypto commentator and on-chain analyst Willy Woo

And yet, this is the first time I've heard that name!

Woo noted that long-term Bitcoin accumulators are more wealthy than ever, particularly when compared to previous bull cycles.
~Snipped~
According to Woo, the previous generation of Bitcoin holders were replaced in the fourth quarter last year with “high-net-worth purchasers” that drove the price higher with accumulation.

It's quite strange seeing a so-called "on-chain analyst" talking about a type of data that's "off-chain"! He clearly based that assumption on a bunch of publicly reported/available data ^{[those are incomplete; therefore, they're inaccurate]}!

"We’re at that point now where all the new guys that bought in during the first half of this year, they’re now long-term holders

This is the first time I've ever seen someone labeled or rather referred to less than a year hodlers, as "long-term holders".

[o48o]

I would agree it's sooner. But imagine what would happen if it took longer and messed up next bear cycle predicted to happen in 2022. People would go nuts on buying it if the bear market didn't came after all the ta predicting it. It would be insane mania, like something world had never seen.

[DaveF]

I have said it before and will say it again, $100k USD is just that, USD it's a nice talking point but for many people it does not matter.
There is a lot of pressure at 60K USD thanks to those Canadians that are selling @ $75k CAD
How many people in GB are going to be selling at about 50K GBP which is about $70K USD?
Yes there is a lot of talking in USD and so on. But small investors are looking at preev.com in their local money not USD.
I *know* plenty of people who have their own number in their head and it has nothing to do with the US dollar.
Since they don't live here, they don't care except in the abstract that it is what people talk about.

-Dave

[pooya87]

These two are also contradictory.
You can't call it a bull market if there is only 50% rise in 8 months (6% per month!!!). 50% rises in a bitcoin bull market happen in 1 month tops.

But wouldn't it still be a bull market period if the price is progressively going upwards over a long period of time with only intermittent drops here and there, followed by quick recoveries?

A lot of people would say we've been in a bull market since late 2020 when the price first stated rising up till this point; That's the same way a bear market would be an extended period of downward prices or little price movements, just as we had from 2018-2020, even though there were intermittent upward spikes, followed by dips.

You are right, it would be a bull market but in bitcoin world we tend to see much faster and bigger bull markets. The only time we see slow rises is when there is a trend reversal for example when price reached the bottom at $3100 back in 2018 we saw the bear trend end and the bull trend start but it took a long time to reverse and when it did reverse the rises started happening a lot faster.

I personally consider this ongoing bull market to have started on first week of April 2019 when the $4k resistance was broken. That means in the past 2.5 years (31 months) we have seen 2061% rise which is 66% rise per month on average.

Saying the next 50% in a strong ongoing bull market would take 8 months sounds highly unlikely to me.

[Ozero]

If you look at what pace the capitalization of the general cryptocurrency market is increasing, as well as the level of popularity of bitcoin among cryptocurrencies, then of course, you can easily come to the conclusion that bitcoin may well reach a price of one hundred thousand dollars either by the end of this year or in the first half of next year ...
This is also facilitated by the deterioration of the general economic condition of states due to unprecedented measures to combat the coronavirus pandemic and the rise in inflation in all states, as well as an increase in people's interest in cryptocurrency.

[GreatArkansas]

Expect the unexpected. This is why I love the Bitcoin market, the market is really unexpected. When Bitcoin lost more than 50% after the previous all-time-high around $64,000 a few months ago, and it dumped to $30,000 below, a lot of people it was already the bear market, but look at now after a few weeks, Bitcoin is back again updating the all-time-high.
It's just a sign for me that bull run is still not yet done.

[aoluain]

What strikes me about this is that I am seeing more and more predictions that the bull market will extend into 2022. If this cycle were to follow a pattern like the previous ones it would end in December of this year or January 2022. This has its logic in the pattern following the halvings and assuming that the regularities are going to repeat themselves, but it does not necessarily have to be that way.

If the bull market were to extend well into 2022 it would be good news for us.

Its hard to get away from the historical past of 2017 and the mass exodus at the then
ATH leaving the Bitcoin market at the hands of the bears but we are 4 years on and the
market is different with a different mix of investors and also a different outlook,
There is a lot of talk about this current market trend extending into 2022 so there
is a big chance it will be a self fulling prophesy.

Regardless of the percentages the outlook is predominantly positive.

[takngantuk]

so far bulls extended only speculative. there's no sign of it happening yet. but if we talk about bitcoin price hitting 6 digits next year, i think it's still possible. the increase in new investors, being one of the reasons. and so far no bad news about crypto and bitcoin(I hope there won't be any in the future). The NFT hype has played an important role in attracting new investors so far. many people don't know much about crypto, but start buying NFT. and if this hype still lasts until next year. I'm sure 6digits makes a lot of sense.

[20kevin20]

The question is - can it hold above six figures? If it will reach $300,000 and then only crash to $100,000 it would be a very remarkable achievement, because it would mean Bitcoin is becoming less volatile in terms of the minimum and the maximum of its cycles. If this bull run is driven by institutional investors and rich people, maybe it is possible, because they will be less likely to panic sell.

I think it would definitely be able to hold above six figures considering current supply issues, inflation and pandemic situation. The price is likely bound to explode soon and stay above ATH. The conditions allow for it to happen, and I believe we're actually most likely underestimating what it can do under this economical situation!

[Ozero]

We hoped that bitcoin would reach a price of one hundred thousand dollars by the end of last year or at the beginning of this year. But we cannot take into account in our forecasts the negative events for the cryptocurrency that periodically occur in our world, regardless of our desire. The ban on cryptocurrency mining and circulation in China, calls for a ban on cryptocurrency mining with an energy-intensive PoW algorithm, the threat of a ban on cryptocurrency circulation in Russia led to a sharp drop in prices in the cryptocurrency market and our optimistic forecasts are postponed to a later date.

[DeathAngel]

I want to believe this but Willy Woo was telling us we’d hit 300k last year. I have lost respect for him, even a broken clock is right a couple of times a day. There are much better analysts out there with better hit records. Even Plan B was wrong though in the end, maybe TA is just bull shit.