Prominent on-chain crypto analyst Willy Woo has revealed that he believes the price of bitcoin is going to at least hit $200,000 based on a recent upward movement on the top capitalization of his price model.
Woo shares the change on Twitter, pointing out that he now believes a $100,000 price target is “too low,” and BTC is instead “on track for $200k minimum.” The top cap metric was created by Willy Woo and is the cryptocurrency’s market capitalization multiplied by 35.
Uh Oh, $100k price targets too low.
Upward bendy motion detected on Top Cap model. Now on track for $200k minimum. pic.twitter.com/JiNJZEORmU
— Willy Woo (@woonomic) January 18, 2021