Here’s a Realistic Price Path for Bitcoin This Cycle, According to On-Chain Analyst Willy Woo

Closely followed on-chain analyst Willy Woo is laying out a price path for Bitcoin (BTC) this cycle.

In a new episode of What Bitcoin Did with Peter McCormack, Woo names a few key levels that can trigger a continuation of the Bitcoin 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.

“We deserve to be in the $50,000-$60,000 range. Once we break $42,000, that’s the long-term sort of line in the sand of the channel we’ve been playing at, and that’s just really a big gap from there to $50,000.

$42,000 to $50,000 is just a gap. So if we break $42,000, there’s not going to be much time to get to $50,000.”

Although Woo is bullish on Bitcoin, the on-chain analyst doesn’t see BTC shooting through all-time highs very quickly if and once $42,000 is breached. According to Woo, the flagship crypto is more likely to bounce around for a while in the $50,000-$60,000 range before it’s able to make new highs.

“I think we’ll take a little bit more time to slice through. I wouldn’t expect us to slash right through but anything can happen. I kind of expect that we’d just retest some of that zone in there because we spent so long playing around in there in that zone of discovering $50,000 to $60,000, and then, wow, if we break the all-time high… If we break that, then we’ll be off to the races again.”


Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix


Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/IM_VISUALS

Leave a Reply

Your email address will not be published. Required fields are marked *