Bitcoin’s bull run in 2021 has pushed digital assets into uncharted territory. The present value of the digital asset has fallen to $ 35,000. Which is still a price point never seen in the previous bull run. This uptrend in the bitcoin market could continue. The value of the price of the largest digital asset will continue to climb.
Many analysts pray the available historical data from 2018 to base their predictions on potential trends ahead. Willy Woo also makes one of those observations about the market turmoil. Woo explained the causes leading to an 85% drop in the value of BTC in 2018. He suggests that “weak hands should be tested and shaken.”
Even though the bull market changes from cycle to cycle, Woo believed that the price mechanism worked the same. Currently, we are in a bull market. In the latter the price of BTC is expected to climb higher than even the current ATH. If Woo’s calculations are to be believed, that peak will be close to $ 200,000 to $ 300,000.
Technical indicators have been strong for the price of BTC to reach new levels. The level estimated by Woo will be an interesting trip, if the price mechanism and the Top Cap model hold true.
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