Although the sideways movements of Bitcoin above $ 60,000 made some investors nervous, we stated that we still have a way to go according to many indicators.
Willy Woo is an analyst who knows Bitcoin and cryptocurrency investors well. Woo, who stands out with his successful analysis of on-chain data, is also a big Bitcoin bull.
Shared by Glassnode, the “Top Price Model” developed by Willy Woo that helped us find the peak in Bitcoin.
This indicator, which helps us find the peak relative to Bitcoin’s average market value, shows that we will reach a value of 4 trillion dollars after the rally. This marks a high of about $214,000 for Bitcoin.
the #Bitcoin Top Cap was originally proposed by @woonomic, and is calculated by applying a factor of 35x to the all-time Average Cap.
Top Cap today puts #Bitcoin at a $4Trillion valuation, and Top Price is hovering around $214k.
Live Workbench Chart: https://t.co/W9yDQwLgLl pic.twitter.com/FA0icH8csy
— glassnode (@glassnode) November 15, 2021