We can't ignore the fact that these are hard times for Bitcoin and other crypto coins. This is unexpected for many investors, but not for some experts. For example, crypto expert Willy Woo predicted this crisis for Bitcoin. We are curious what he predicts for the rest of the year. Are you?
Who's Willy Woo?
Willy Woo is an analyst tracking the Bitcoin and crypto industry from 2013. He has written for Forbes and CoinDesk, among others. In 2017 he was elected one of the 5 best crypto analysts. Since then, he has been doing research and market forecasting on Bitcoin and crypto coins.
What did Willy Woo predict about the Bitcoin?
In November 2019, before the outbreak of the Corona crisis, Willy Woo shared his vision for the crypto market in 2020. He predicted that the market would rise to around $9,000 in January and February. He also predicted that the market would fall to $ 4,500 to $ 5,000 in March, which has so far been spot-on for all three months. This made him one of the exceptions to this price movement. All the more interesting to see what he thinks for the rest of 2020.
Bitcoin halving feeds the bulls
Because with the Bitcoin halving, the reward for mining Bitcoin is reduced from 12.5 BTC per block on the blockchain to 6.25 BTC, there will be far fewer crypto coins in circulation. This means, given the absolute market capitalization on 21 million coins, that the currency is rapidly becoming scarcer. Scarcity also normally means a price increase for Bitcoin. This is what Willy Woo anticipates. Besides, he is not alone in this.
Where does the Bitcoin end in 2020 according to Willy Woo?
On 3 March Willy Woo appeared in Max Keiser's internet show 'Keiser Report'. In an interview he tells (from 12.30) his vision on the market. He expects a rapid price growth after the Bitcoin halving. He calls the idea that the price could reach $135,000 at the end of the year common sense. Of course, we help him hope so.
But also influencers remain positive
Not only Willy Woo predicts a bright future for Bitcoin, but top investor Tim Draper joins him. In an online interview he is very positive about the crypto market and expects that crypto coins will eventually emerge stronger from the Corona crisis.
In the interview, he explains that Bitcoin can even be the 'daysaver' when the crisis is over.
