Bitcoin Price READY TO SHOOT UP - Willy Woo - Aug. 26, 2021

Bitcoin Price READY TO SHOOT UP - Willy Woo - Aug. 26, 2021

In this video, Willy Woo explains why the Bitcoin market is still bullish. He also describes some of the ways he uses to measure demand and supply of coins.

Here Is the highlight of the interview:

The bull market will continue into 2022. One of the ways to measure demand and supply is grappling with what the real demand and supply is and running a ratio between them. That is, how many coins you can get if you want to buy. This can be called supply shock. As the amount of coins grows, people that are super-speculative are selling at any price if they think the price will go down.

There are many ways to run the ratio. One of them is to know those who are not selling. To get this, you can look at those who are long-term holders if their coins are not moving for five months. Whereas any coins that have been circulating within a shorter time frame, there's a fair chance you can get those because they've been moving between hands.

If you run the ratio, it takes 115 days for a coin to get from short term to long term. It's a very smooth graph. So, once a coin has reached five months of age, it's unlikely to change its behavior in a volatile way. When you run the supply shock there, you'll see supply going up the peaks and lows. The peaks coincide with mass accumulation by long-term investors.

And they also can't say before the historical bottoms where a floor was put on the price. The reason is that they keep accumulating and buying from anyone who is selling. Then in case the price hits the bottom and dries out, which means no one is selling, the price moves up. So, we are in one of these accumulations. The last one ended in October last year. We had a decent spell of many months when we were at peak accumulations by the long-term holders.

Then the price started running up and the long-term holders started to divest and sell the coins out. That culminated in the price dropping to $30,000 from $64,000. Since then, the same pattern has been happening. They are accumulating, and we're not at peak accumulation yet. It takes at least a month or two to get to full accumulation, using historical data. Then after that, the price keeps going up for months.

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