Willy Woo: selling Bitcoin now is madness

Popular cryptocurrency analyst Willy Woo, in the What Bitcoin Did podcast, called selling Bitcoin right now “madness.”

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According to Woo, in 2021 the first cryptocurrency is expected to complete the final leg of a three-year rally — an explosive bull run.

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“You have to be crazy to sell [Bitcoin] right now. […] I think we are at the bottom. Personally, I’m accumulating long positions,” the analyst said.

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Woo noted sizable transfers of Bitcoin from the Coinbase exchange to cold wallets. In his view, this signals accumulation by major holders ahead of the rally in the first cryptocurrency.

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Earlier, in late 2020 Woo predicted that Bitcoin would reach $300,000 in 2021. He regards the forecast of $100,000 in the near future as ‘overly conservative’.

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Senior Bloomberg Intelligence commodities strategist Mike McGlone predicted a rise in digital gold to $400,000 in 2021.

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Earlier, well-known trader Tone Vays said that Bitcoin is expected to resume growth, to reach a new all-time high and subsequently fall sharply.

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