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Closely followed on-chain analyst Willy Woo is laying out a price path for Bitcoin this cycle. In a new episode of What Bitcoin Did Pod with Peter McCormack, Woo names a few key levels that can trigger a continuation of the BTC bull market.
According to the analyst, Bitcoin’s on-chain fundamentals currently give BTC a fair value somewhere between $50,000 and $60,000. Woo also highlights a key price level that he thinks Bitcoin must reclaim to ignite bullish momentum.
Woo’s price prediction for BTC placed it at $162K. Going as far as saying that a $200,000 price mark is still possible for the digital asset this year. This puts Bitcoin on a tremendous run path to get to such a high prediction.
In other trending Bitcoin News today: Unchanged crypto tax bill will be put to a vote on Tuesday! The provisions aim to raise $28 billion for infrastructure funding through expanded digital asset taxation and will impose broad third-party reporting requirements on any crypto firm deemed to be a “broker.”
“If I had any confidence in politicians I wouldn’t be buying Bitcoin for 10 years. Bitcoin came about in part because our financial/political institutions are collapsing from hyper money printing. Why would I call DC senators/arsonists to put out the fire they started?” – Max Keiser
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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