On-Chain Analyst Willy Woo Says Bitcoin’s ‘Last Cycle’ Playing Out As BTC Gets Aggressively Accumulated


The age of four-year Bitcoin (BTC) market cycles is likely over, according to popular on-chain analyst Willy Woo.

In October last year, Woo told his one million Twitter followers Bitcoin was probably trading in what he calls “the last cycle.”

Track live crypto price of 10000+ coins!


“What will be this bull cycle top? In my opinion, there is no top. PAST: *predictable walk* of demand/supply governed by a simple four-year halvening. NOW: *unpredictable walk* of demand/supply from a complex ecosystem until we hit saturation.

Image
Source: Willy Woo/Twitter

Nearly half a year later, Woo says BTC is likely demonstrating the first signs of his last cycle thesis right now.

“Three relatively short bull and bear markets have transpired since the 2019 bottom already… i.e. no more four-year cycles.”

The analyst also notes that Bitcoin is currently being accumulated.

Explains Woo,

“Note the size of the accumulation in the past when we had strong capitulations ending each four-year cycle. These days it’s pulsed smaller and more frequently alongside the shorter and smaller bull/bear cycles (supports ‘The Last Cycle’ thesis).”

Bitcoin is trading at $41,950.00 at time of writing after hitting a recent high of around $42,240 on Saturday. The top-ranked crypto asset by market cap is up more than 4% from where it was priced one week ago.

Related:  Reborn Terra Network to Be Potentially Denied by Top-Tier DeFi Platform Lido Finance

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Hanna Gottschalk




Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: