Bitcoin is expected to rise tenfold in the coming year, according to prominent cryptocurrency analyst Willy Woo.
The forecast was quoted by well-known trader Tone Vays on his YouTube channel.
» A 100k #bitcoin in the near future overly conservative, the price target expectation for 2021 is on track for 200k to 300k USD….and it actually might go higher» 🔥🌕
— @woonomic on @ToneVays Youtube
👉 https://t.co/hp2ssD6Fpe pic.twitter.com/ztLrWEW2S0
— Bitcoin Meme Hub 🔞 (@BitcoinMemeHub) December 26, 2020
Bitcoin’s expected target price for 2021 is between $200,000 and $300,000, and it could actually be higher, Woo said.
He added that he regards the forecast for Bitcoin to reach $100,000 in the near term as \”overly conservative\”.
The daily price chart, the analyst said, is optimistic and suggests the leading cryptocurrency is poised for another rally that could push the price to new all-time highs.
As reported, on December 30 Bitcoin reached an all-time high above $28 500.
Ki Young Ju, head of CryptoQuant, said the price will be driven higher by institutional investors. This will be supported by a reduction in selling pressure from miners and other large players.
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