I’m super interested in seeing how well the bevy of on-chain indicators work for calling this top, we didn’t have these in the last cycle, this cycle I’ve lost count of how many we have. Everyone will be looking at them, so they will probably break.

I’m super interested in seeing how well the bevy of on-chain indicators work for calling this top, we didn’t have these in the last cycle, this cycle I’ve lost count of how many we have. Everyone will be looking at them, so they will probably break.

https://t.co/KukPYh9hGq https://t.co/ZxLWNf2H0D

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@Hank69Moody I described the forces in play and their timing (halvening and tax sell off). This gives timings of push and shoves, how each cycle plays out is up to that cycle. December sell pressure after a bullish year still remains true.

@Hank69Moody I described the forces in play and their timing (halvening and tax sell off). This gives timings of push and shoves, how each cycle plays out is up to that cycle. December sell pressure after a bullish year still remains true.

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With the current structure of investor demand, looks like we’re in a band where 20% pull backs are the worst we may get instead of 30%-40% which we saw in the last cycle (late 2016-2017). Of course this may change as things heat up, but it’s a fair rule of thumb IMO right now.

With the current structure of investor demand, looks like we’re in a band where 20% pull backs are the worst we may get instead of 30%-40% which we saw in the last cycle (late 2016-2017). Of course this may change as things heat up, but it’s a fair rule of thumb IMO right now.

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@NemelkaJoe @garyblack00 This came up a lot in @ToneVays’ show yesterday. 20% has been the current environment due to high spot demand, that’s not to say 30%-40% might not happen later in this cycle if the premium above organic HODLers heats up. I haven’t checked the data with today’s rally yet.

@NemelkaJoe @garyblack00 This came up a lot in @ToneVays’ show yesterday. 20% has been the current environment due to high spot demand, that’s not to say 30%-40% might not happen later in this cycle if the premium above organic HODLers heats up. I haven’t checked the data with today’s rally yet.

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Bitcoin Rise to $1 Million Possible This Cycle, According to Crypto Analyst Willy Woo

Popular on-chain analyst Willy Woo says Bitcoin ascending to the seven-figure mark this bull cycle is now within the realm of possibility.

In a new episode of the What Bitcoin Did podcast, Woo reveals his broad range of Bitcoin price targets for the current bull cycle.

“It would need a very steep hockey stick but I can’t say that [$1 million BTC is] out of the question. I can say $100,000 is very conservative. I can say $200,000 is right on track, or somewhere between $100,000 and $200,000 is a very conservative sort of sweet spot… $300,000 to $1 million is actually not much of a gap, believe it or not…

It just reminds me of the moon and Mars metaphors. If you were to go to the moon, the amount of energy it takes you to get to the moon, it’s just a little bit extra to get to Mars. It’s a little bit like that on these charts.”

During the interview, Woo also highlights a key resistance level that Bitcoin needs to bust through before it can reach his targets for this cycle.

Woo points to the $50,000 range as a significant point of resistance that, if surpassed, could send Bitcoin on its way to becoming a multi-trillion dollar asset that eats up a significant portion of gold’s market cap.

“The next key mark in the sand for me is the $50,000-$55,000 Bitcoin, and that broaches us into that $1 trillion resistance level market cap. If Bitcoin becomes a trillion-dollar asset market cap, at that point, all major macro asset buckets are trillion dollars, and Bitcoin’s not even in that league yet.

Once we break that, I think that’s big news and I think that it then becomes a black hole and it sucks in other assets, particularly gold, because it’s kind of an antiquated old version of Bitcoin.”

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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.

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@BitcoinRonahi Far from resetting which means immense amounts of FOMO buying in the market right now, they over powered profit takers and moved price upwards. That’s not been seen before this early in the cycle.

@BitcoinRonahi Far from resetting which means immense amounts of FOMO buying in the market right now, they over powered profit takers and moved price upwards. That’s not been seen before this early in the cycle. https://t.co/jyrREAsNvp

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