Bitcoin on-chain analyst Willy Woo is revealing the window of time during which he believes Bitcoin will hit its bull market peak.
In an interview on the What Bitcoin Did Podcast, Woo predicts that Bitcoin’s current bull cycle will likely end in December of this year.
Working under this assumption, Woo believes that Bitcoin will hit a high of $300,000 during this bull market.
“[Bitcoin] is sort of ball-parking $200,000-$300,000 if you assume the end is in December. And now it looks like $300,000 minimum is the trajectory. So you know it can go further up or it can go down a bit if we have… it depends on how the price action swings over the rest of this year.”
The on-chain analyst discusses his strategy for avoiding massive losses once Bitcoin finally loses steam and reaches its peak.
Woo explains that, in an ideal world, one would not sell their BTC positions on the way up to the top, but receive confirmation that the king coin has in fact topped out using various metrics, and then sell on the way down.
“I was not in it to sell leading up to the top. It was more that I would wait for the top to start to signal and then I would sell on the downward run.”
Woo warns that his preferred exit strategy may succeed for the average Bitcoin investor, but will likely cause issues for BTC mega-whales.
“If you’re a whale and maybe a Michael Saylor-size whale, maybe you’ve got… maybe not even a 100,000 Bitcoin but maybe you’ve got just a paltry 10,000 Bitcoin, you might have trouble selling in the downside of the market because the liquidity starts to dry out on the way down…
But for ordinary people that have got under, say a 1,000 Bitcoin, I think it’s perfectly fine. There’s sufficient liquidity in Bitcoin to exit the market on the way down.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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