{"id":127392,"date":"2020-12-06T13:34:46","date_gmt":"2020-12-06T10:34:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/it-will-send-btc-on-chain-analyst-says-bitcoin-hodlers-are-only-getting-stronger\/"},"modified":"2020-12-06T13:34:46","modified_gmt":"2020-12-06T10:34:46","slug":"it-will-send-btc-on-chain-analyst-says-bitcoin-hodlers-are-only-getting-stronger","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/it-will-send-btc-on-chain-analyst-says-bitcoin-hodlers-are-only-getting-stronger\/","title":{"rendered":"# &#8216;It will send BTC&#8217; \u2014 On-chain analyst says  Bitcoin hodlers are only getting stronger"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a348bb9b0c0c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a348bb9b0c0c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/it-will-send-btc-on-chain-analyst-says-bitcoin-hodlers-are-only-getting-stronger\/#A_bullish_Bitcoin_re-accumulation_phase_is_happening\" >A bullish Bitcoin re-accumulation phase is happening<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/it-will-send-btc-on-chain-analyst-says-bitcoin-hodlers-are-only-getting-stronger\/#Woo_called_a_massive_BTC_rally_in_March_2020\" >Woo called a massive BTC rally in March 2020<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># &#8216;It will send BTC&#8217; \u2014 On-chain analyst says  Bitcoin hodlers are only getting stronger <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>According to on-chain analyst Willy Woo, the price of Bitcoin (BTC) could achieve a &#8220;conservative&#8221; target of $200,000 in 2021. The prediction revolves around the fact that long-time investors seem more confident in the recent rally.<\/p>\n<p>There are two key data points that suggest Bitcoin\u2019s ongoing rally could explode higher. First, \u201cHODLers,\u201d or long-time BTC holders, aren&#8217;t moving their funds for longer than in previous rallies. Second, BTC held on exchanges continues to decrease, which reduces selling pressure.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_bullish_Bitcoin_re-accumulation_phase_is_happening\"><\/span>A bullish Bitcoin re-accumulation phase is happening<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The re-accumulation of Bitcoin has remained a consistently bullish trend throughout 2020. It has continuously decreased the selling pressure on BTC, allowing a more stable rally without major 30%-40% corrections as frequently seen in 2017.<\/p>\n<p>Woo noted that he is bullish for 2021 because Bitcoin\u2019s re-accumulation phase means the amount of BTC that could be sold is much lower compared to the previous bull cycle. He <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/woonomic\/status\/1333826686257831936\">said<\/a>:<\/p>\n<blockquote><p>\u201cI&#8217;ve never been so bullish for 2021. This re-accumulation phase coincides with spot market inventory depletion roughly 2x longer and deeper than the last cycle. It will send BTC.\u201d<\/p><\/blockquote>\n<p>Atop the declining Bitcoin reserve on exchanges, Woo found that HODLers are \u201cholding stronger.\u201d In 2017, the amount of gain per the amount of capital invested in Bitcoin hovered at around $0.25. This figure increased to $0.35 in 2020, which means more investors expect event bigger profits in the future.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/904b69fe-1831-4d4b-ab42-7aecdb204cc7.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin market cap gain per dollar invested. Source: Woobull.com<\/em><\/figcaption><\/figure>\n<p>Based on the combination of the two optimistic on-chain trends, Woo said that Bitcoin could achieve a\u00a0 &#8220;conservative price&#8221; of $200,000 by the end of 2021. He explained:<\/p>\n<blockquote><p>\u201cMy Top Model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question. The current market on average paid $7456 for their coins. You all are geniuses.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/ca0b5d45-d514-4b8a-a825-eed2d3de41b0.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin HODL waves. Source: Glassnode, Unchained Capital<\/em><\/figcaption><\/figure>\n<p>As reported in May, Bitcoin HODL wave data also supports the argument the HODLers from the 2017-2018 bull cycle aren&#8217;t selling at these relatively high prices,\u00a0including high-net worth individuals or &#8220;whales.&#8221;<\/p>\n<p>However, this data also suggests that\u00a0some earlier HODLers from three to seven years ago are taking profit after a prolonged BTC rally, heightening the chances of a correction in the short term.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Woo_called_a_massive_BTC_rally_in_March_2020\"><\/span>Woo called a massive BTC rally in March 2020<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As Cointelegraph previously reported, Woo has been calling for an extended Bitcoin bull run since March 2020.<\/p>\n<p>On Mar. 4, Woo told Max Keiser, the host of RT\u2019s Keiser Report, that Bitcoin could hit $135,000 in the bull run. He said at the time:<\/p>\n<blockquote><p>\u201cYou go could 35 times the cumulative average of the price \u2014 and that\u2019s actually picked every single top in the ten-year history of Bitcoin \u2014 right now that\u2019s sitting above $50,000, but it keeps climbing the longer it runs for.\u201d<\/p><\/blockquote>\n<p>Although the price of Bitcoin fell to sub-$4,000 on Mar. 12 in a \u201cBlack Thursday\u201d crash that shocked the market, it has swiftly recovered since.<\/p>\n<p>The bull trend that was bound to h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en in March before the crash appears to be in full swing now following BTC\u2019s strong nine-month recovery.<\/p>\n<p>But in the near term, analysts believe that the likelihood of the recovery in the U.S. dollar could cause Bitcoin to see a minor pullback. Following the biggest three-week liquidation in the gold market, analysts also see the precious metal rebounding, which could stall BTC\u2019s momentum in the short term.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/it-will-send-btc-on-chain-analyst-says-bitcoin-hodlers-are-only-getting-stronger\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# &#8216;It will send BTC&#8217; \u2014 On-chain analyst says Bitcoin hodlers are only getting stronger &#8221; According to on-chain analyst Willy Woo, the price of Bitcoin (BTC) could achieve a &#8220;conservative&#8221; target of $200,000 in 2021. The prediction revolves around the fact that long-time investors seem more confident in the recent rally. There are two&#8230;<\/p>\n","protected":false},"author":1,"featured_media":127393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/6b8c7ba0-b195-448e-ac63-043e9b4271ac.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,75720,74939,73785,68637],"class_list":["post-127392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-investment","tag-market-analysis","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/127392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=127392"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/127392\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/127393"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=127392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=127392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=127392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}