While a few are projecting Bitcoin of going further down, on-chain analyst; Willy woo is sighting the premier coin shooting up to the price level, more than double of its all time high.
Bitcoin Shooting Well Over Six-Digits
In a recent interview with investor Anthony Pompliano, crypto enthusiast and on-chain analyst willy woo sighted Bitcoin reaching an overwhelming price of $157,000.
Willy asserted, while there should not be any doubt that the market is in bulls, we are currently in the re-accumulation phase and the next significant event will occur when the fundamentals squeeze the price action and the market breaks out of this re-accumulation process.
Conceding the ludicrous nature of the projection,
Willy stated that if Bitcoin squeezes out of this accumulation phase its price could potentially start curving upwards into the range of $250,000 and $350,000.
Last Quarter of the Year
Further, though he, seemed bullish on Bitcoin’s short-term prospects willy affirmed that he has no idea about the happenings that are supposed to occur during the last quarter of the year. Willy stated:
“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.”
Opposing views
In his interview with CNBC, Chairman of Guggenheim Investments; Scott Minerd echoed that he is seeing Bitcoin going down as low as $10,000 as he projected that it to depreciate by 70-80%.
In May, Minerd compares Bitcoin’s performance to a 17th-century speculative bubble that involved the prices of tulip bulbs. Deriving the term from that particular occurrence Minerd called the crypto market “Tulipmania”.
Lastly according to a Forbes article, published a couple of days earlier, JP Morgans’s leaked report has projected Bitcoin price to remain extremely volatile.
Credit: Source link
