According to Willy Woo "Bitcoin is undergoing the largest supply shock in its history.
The steepest price rise seen so far in 2021, has been supported by strong fundamentals."
Most retail investors buy bitcoin and leave it on the exchange wallet because it is very convenient and easy.
This cycle is different because most bitcoin that are bought are leaving the exchanges which is a characteristic of a high net worth individual and Institutional investor.
This investor have no selling history, and are locking up their bitcoin in cold storage or in custody.
Add to that the trillions of dollars being printed out of thin air. The chart below shows bitcoin capitalization against US dollar, it shows that we have not yet reach all time high in terms of US dollar value.
What do you think about his prediction?
Will BTC top on December or September as others analyst expect.
Feel free to comment your price prediction in the comment section below.