Bitcoin Analyst: We’ll Never See $20k BTC Again

Summary:

Willy Woo has forecasted that we’ll by no means see a $20k Bitcoin again$24k is Bitcoin’s new flooring and handy via a ‘black swan’ experienceMr. Woo additionally suggests that Bitcoin has ‘free and unrestrained price discovery above ATHs’Bitcoin has set a brand new all-time top of $34,822 – Binance rateThere is now a $3,SIX HUNDRED CME gap due to the weekend rally

Veteran Bitcoin and Crypto analyst, Willy Woo, has forecasted that we will be able to by no means see BTC at $20k again. in keeping with Mr. Woo, $24k is Bitcoin’s new floor and only a black swan adventure may lead to this sort of breakdown to this level.

Below is Mr. Woo’s commentary on the future of Bitcoin.

We’ll by no means see $20k BTC again. $24k fortify would want a black swan experience to breakdown. Floor worth supported by way of long run patrons is rising very fast.

Bitcoin Has Unfastened and Unrestrained Worth Discovery Above ATHs

Willy Woo also pointed out that Bitcoin had little resistance once it broke each and every all-time high price. consistent with Mr. Woo, Bitcoin is in ‘unfastened and unrestrained price discovery above ATHs’.

Furthermore, altcoins do not have such an advantage as so much are yet to reclaim prior glory in the wake of SEC scrutiny of crypto tasks similar to XRP. Mr. Woo made his analysis of Bitcoin and altcoins via the following tweet.

BTC is in free and unrestrained value discovery above ATHs. Such A Lot alts are not.

BTC has the infrastructure and liquidity to take institutional grade investment, alts are underdeveloped.

Plus regulatory government cleansing up unlawful safety sales. Dampens confidence in alts. https://t.co/gCJpARVACF

— Willy Woo (@woonomic) January 2, 2021