Willy Woo LATEST Bitcoin Price Prediction Update - July 30, 2021

Willy Woo LATEST Bitcoin Price Prediction Update - July 30, 2021

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In this video, Willy Woo talks about the Bitcoin cycle and how far he thinks the digital asset will go in the near future.

The interesting thing about this cycle is the 100 Bitcoin to 1,000 Bitcoin strata, and these come from high net worth individuals and the smaller sheet funds. They bought tons of Bitcoin, and there's been an outlier bump. The bump started around $30,000 in January. It comprises the dump made by dolphins and sharks 100 Bitcoins upwards, but not the whales that started to climb.

Although there was a lot of selling recently, the big guys didn't sell that much. They still hold a lot of supply. But overall, the trend is looking great. Willy Woo is planning to get some data of different Bitcoin holders and estimate what is called the Gini Coefficient across Bitcoin from the last 12 years. This will show the wealth distribution that economists use.

No coin network is close to the level of the Bitcoin distribution. This distribution is very important because it controls a lot of the assets. If Bitcoin ceases to be a centralized network, it can be pushed around by gold. Gold failed because it was too centralized and held by governments who used it to back the money. When those century entities lost control of the gold, they decoupled people from the gold standard. So, weird things can happen when some individuals or bodies get large pockets of control of the coins.

The 115k and 120k will be a weird psychological battle because some people might decide to sell up to 10 Bitcoin to make a million dollars and become a millionaire. So, for several reasons, that range would bring a psychological battle. This happened when Bitcoin was 10k in 2017.

There's a model that shows that in past cycles, Bitcoin price reached the upper bound before it ended. But this is a moving target, so you don't have to be right all the time. You can keep adjusting your prediction because it's a model. For example, today, the upper bound is $162k. The price runs on historic averages of price movements.

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