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Bitcoin seems to be slowly recovering in price following the latest market corrections. Check out the latest optimistic prediciton about the king coin.
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $51,063.
New optimistic Bitcoin prediction
It’s been just revealed that the crypto analyst Willy Woo says that Bitcoin (BTC) is moving toward a major breakout phase.
In a new interview with crypto channel host Scott Melker, Woo explained that even though BTC is still recovering from the most recent crypto market pullback, it’s gearing up for a massive rally that should kick off during the first two months of 2022.
“I’d say we’re not in the main run of the bull market. There’s a main run phase where it’s just going to go up, the momentum is strong.”
He also continued and said:
“We’re just coming out of a reaccumulation, we just had this massive sell-off in May. That’s when everything’s strong. That’s the main phase of the bull run. We’re not there yet.”
He also said that even if this month was a weak one, the next six months are looking great due to a shift of token ownership from short-term holders to long-term holders.
Bitcoin to enter $200k rally
The influential crypto analyst addresses a potential price path for Bitcoin that could see BTC quadruple in price to $200,000.
Recently, Merten said that BTC will skyrocket toward $200,000 sometime near the end of 2022.
“We can see with the expanding cycle theory, where we’re expanding by about a year each time. We have our preceding year-long bear market, [and] we’re adding about 13 to 11 months each and every cycle.”
He continued and said the following:
“If we do that here, if we add an additional 12 months, we meet in the middle between the [previous] averages, we can see here that we’re on a good roadmap to be able to reach some kind of parabolic target like $200,000 later on in 2022.”
Stay tuned for more news.