According to the beliefs of Willy Woo, a well-learned analyst, Bitcoin (BTC) is at the beginning point of the second phase of its “main bull run”. And, its price peak will not be hitting anytime soon in the year 2021.
Woobull, who is the statistics resource creator, gave hope for price gains of Bitcoin over Twitter. He stated that the price gains of Bitcoin were just the beginning.
Woo also pointed out similarities between some of the current behavior and the behaviors of 2017 of the metric, and Bitcoin, by uploading information that displayed the relative strength index of Bitcoin.
Bitcoin And Its Relative Strength Index
The relative strength index studies the behavior in price over a given time period. It is calculated involving the average ratio that closes higher and lower over that particular time period.
According to Woo’s predictions done in July, the bull run would start in the 4th quarter of 2021 and reach the year 2021. This has proved to be right presently. Hence, his suggestions say that the new bullish phase will reach the top, only sometimes within a year.
When he was asked regarding the likely peak, he replied by saying that he would choose December 2021 as the right answer.
Both the CEO of Real Vision, Raul Paul and, the co-founder of Gemini exchange, Tyler Winklevoss, have given statements that the BTC/USD all-time high, will arrive within Q3 of 2021.