Trading Tipps

Willy Woo says Bitcoin could reach $200,000 by 2021 because older investors are more confident about the current rebound.

According to on-chain analyst Willy Woo, the price of Bitcoin (BTC) could reach a „conservative“ target of $200,000 in 2021. The prediction revolves around the fact that older investors seem more confident in the recent upturn.

There are two key data points that suggest the ongoing Crypto Trader recovery could explode higher. First, „HODLers,“ or long-time BTC holders, aren’t moving their funds any longer than in previous rallies. Second, the BTC held in the exchanges continues to decline, which reduces selling pressure.

A phase of bullish accumulation of Bitcoin is taking place

The accumulation of Bitcoin has remained a constant upward trend throughout 2020. The selling pressure on BTC has continuously decreased, allowing a more stable rebound without major corrections of 30% to 40%, as was often seen in 2017.

Willy Woo: Bitcoin reaching $200,000 in December 2021 is now ‚conservative

Woo said he’s optimistic for 2021 because the accumulation phase of Bitcoin means that the amount of BTC that could be sold is much lower compared to the previous upward cycle. He said:

„I’ve never been so optimistic for 2021. This accumulation phase coincides with the depletion of spot market inventory approximately 2 times longer and deeper than the last cycle. It will send BTC.

On top of the declining Bitcoin stock in the exchanges, Woo discovered that the HODLers are staying stronger. In 2017, the amount of profit for the amount of capital invested in Bitcoin was around $0.25. This figure increased to $0.35 in 2020, which means more investors expect higher returns in the future.

Bitcoin Market Cap Gain per Dollar Invested

Bitcoin’s ‚Hodl Wave‘ data indicates a rising trend

Based on the combination of the two optimistic on-chain trends, Woo said Bitcoin could achieve a „conservative price“ of $200,000 by the end of 2021. He explained:

„My top model suggesting $200k for BTC by the end of 2021 looks conservative, $300k is not out of the question. The current market paid an average of USD 7456 for its currencies. You are all geniuses.

S&P Dow Jones Indices announced the introduction of benchmarks for digital assets such as cryptocurrencies. The company says the time is „ripe“.

Crypto-savvy Wall Street traders will soon have access to new tools for evaluating cryptocurrencies

To this end, S&P Dow Jones Indices, a leading global index creator with over 100 years of experience, has teamed up with the New York start-up Lukka. That comes from a joint press releaseof companies from December 3rd. Thereafter, the cooperation is to serve the growing demand from investors for benchmarking and index solutions for blockchain assets. Bitcoin and Co. are a „rapidly developing asset class“ and the „time is ripe for independent, reliable and user-friendly benchmarks“, says Peter Roffmann, Global Head of Innovation and Strategy at S&P Dow Jones Indices.

“Our collaboration with S&P DJI is another milestone that closes the gap between the crypto asset ecosystem and traditional financial services,” added Robert Materazzi, CEO of Lukka.

Customers with a need for crypto data will soon have access to the most trustworthy data in the industry, which is supported by Lukka’s institutional quality standards […] „

The blockchain data service provider from New York is „thrilled“ to have won a renowned partner in S&P Dow Jones Indices for the promotion of the emerging market of Bitcoin and Co.

Hardly any details

The press release is stingy with details on the planned crypto benchmarks. So far, there is no information about which assets should be indexed; an exact start date is not yet known either. It can be assumed, however, that the new benchmarks for Bitcoin and Co. will only enter the traditional trading floor in the coming year.

The Bitcoin price can meanwhile stay above the 19,000 US dollar mark – you can find out the price targets, supports and resistances here .

Założyciel DataDash i analityk kryptograficzny Nicholas Merten mówi, że Bitcoin właśnie wysłał swój największy sygnał kupna od ponad 24 miesięcy.

W nowym filmie DataDash Merten wyjaśnia, dlaczego tygodniowe zamknięcie Bitcoina powyżej 13000 USD jest historycznym kamieniem milowym dla największej kryptowaluty

„Wczoraj ustaliliśmy najwyższe tygodniowe zamknięcie, które ponownie jest znaczącą ceną, na której koncentrują się ludzie, najwyższe tygodniowe zamknięcie od połowy stycznia 2018 r. [To było] więcej niż dwa i jeden pół roku odkąd jesteśmy w tym momencie… To jest naprawdę ekscytujące ”.

W kontekście ustalonej ceny krypto-strateg podkreśla, dlaczego ostatnie cotygodniowe zamknięcie jest silnym sygnałem zwyżkowym.

„Powodem, dla którego z technicznego punktu widzenia jest to niezwykle cenne, daleko wykraczające poza wartość jakiegokolwiek wskaźnika, który mógłbyś wykorzystać na swoich wykresach, jest to, że był to znaczący punkt oporu dla Bitcoin Evolution przez długi czas, gdziekolwiek pomiędzy górnym przedziałem 11 000 USD tu w lutym 2018 r., tutaj w lipcu i czerwcu 2019 r., a także tutaj w sierpniu 2020 r.

Zwykle ten przedział od górnego zakresu od 11 000 USD do 13 000 USD był wielokrotnie kwestionowanym zakresem oporu dla Bitcoina

Gdy ceny próbowały odzyskać te 20 000 dolarów maksimum, które widzieliśmy w grudniu 2017 r., Cena z trudem utrzymywała się w tym przedziale iw rzeczywistości za każdym razem, gdy pojawiła się w tym przedziale, została szybko sprzedana przez ludzi, którzy kupili Bitcoin i w końcu osiągnęli zyski na swoich pozycjach, gdzie presja ze strony sprzedających zaczęła przeważać nad kupującymi. Tym razem naprawdę nie ma dużej presji po stronie sprzedaży. To jest tutaj ważny czynnik: jak cena się utrzymuje ”.

Is the euro out of fashion? – The question of a digital euro seems to haunt the minds of all European central bankers (for good or for bad). After the Spanish central bank , it is that of Germany which is very concerned about the issuance of a central bank digital currency (MNBC) in the euro zone.

Everything studied in detail before acting

At the China-Europe Financial Summit, which took place online on October 20, Burkhard Balz , board member of the German Central Bank , made several statements relating to digital currencies .

Unlike many of these counterparts, the German banker seems worried and in no rush to see the issuance of a future digital euro .

“The introduction of an MNBC is a political decision rather than a technical decision. Therefore, a full conceptual analysis and assessment of this MNBC against other options is needed (…) especially with regard to its impact on society as a whole. „

Burkhard Balz is very concerned about the risks this digital currency would pose to financial stability and the health of the banking system .

International cooperation and stablecoins

The banker also insists on the need for „close cooperation“ between central banks to set up MNBCs under the best possible conditions, with the maximum of security and regulatory framework .

“I believe it is in the interests of the global central banking community that new payment devices, such as stablecoins with potentially global reach, are only offered if they are properly regulated and supervised. „

The joint work on a CDBM , set up by the Bank of Internatioaux Regulations (BIS) and 7 central banks , it seems a perfect setting.