Yet another crypto analyst has predicted we are on the verge of a dramatic Bitcoin (BTC) bull run. 

On-chain analyst and Co-founder of Hypersheet, Willy Woo, has published a new BTC price model predicting an “exponential bull run” starting within 30 days. Based on historical data, the new model seems to suggest we are around a month from the long-awaited bull market. 

2020 has been a strange year for everything, including Bitcoin. Despite many expecting the original crypto would rapidly emerge as a safe haven asset during times of crisis like COVID-19, from its $10K mark in February, its price plunged as low as $3,600 at one point, triggering the liquidation of more than $1 billion worth of leveraged positions. 

Despite the COVID-19 crisis affecting nearly all risk-on markets, Woos says his model, which has proven accurate before, suggests Bitcoin is about to go exponential. 

This is a new model I’m working on, it picks the start of exponential bull runs.

1) Bitcoin was setting up for a bullish run until the COVID white swan killed the party.

2) This model suggests we are close to another bullish run. Maybe another month to go. pic.twitter.com/wmoEdMVywF

— Willy Woo (@woonomic) June 27, 2020

Furthermore, Woo has gone out on a limb and said that if the price of Bitcoin remains stable for longer, and the bull run is delayed beyond a month, it will likely strengthen the next break out and lead to a higher peak price. 

That point seems to be supported by the fact that, despite its failure to break out into a bull run, Bitcoin’s price has seen a definite sideways uptrend, with its series of higher lows remaining unbroken. 

AYO.NEWS says:

Wherever you stand on Bitcoin, the flood of models and predictions suggesting a major bull run in the coming months is fascinating. Of course, it should be remembered that in any situation, there are always some analysts using models to predict pretty much every possibility – there are, after all, an awful lot of analysts these days! 

However, it’s hard not to get the feeling that we are seeing a subtle shift towards a much stronger institutional presence in cryptocurrencies, especially Bitcoin (BTC). And, as Messari’s Ryan Watkins pointed out last week, if institutions shift just a tiny percentage of their portfolios to BTC, it could have dramatic results. 

At this point, perhaps we should keep in mind another observation from Willy Woo: “fiat money is also an experiment.”

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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