Popular on-chain analyst Willy Woo says that Bitcoin is poised to hit the six-digit price range once its retracement is over.
Woo says in a new interview with Bitcoin bull Anthony Pompliano that based on on-chain data, he believes it’s only a matter of time before the leading crypto asset kicks off the next phase of its bull market.
“This is a bull market. There’s no mistaking this. We’ve got X-ray vision on what the investors are doing, and it’s bullish whilst price is sliding downwards. I think the next major event is when the fundamentals squeeze price action, and we break out of this what I’d call re-accumulation band right in the middle of a bull market.”
According to Woo, his top model is flashing a new price target for Bitcoin at $157,000. However, he predicts that once Bitcoin resumes its bull trend, he expects the model to hike up the price target.
“If we squeeze out